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Intel shares plunge nearly 30% after weak fourth-quarter forecast
- •The Friday drop to $65.76 erased more than $146 billion in market value, marking Intel’s worst one-day decline in more than 50 years.
- •Intel forecast fourth-quarter revenue of $15 billion–$16 billion, below analysts’ $17.07 billion estimate; adjusted earnings per share are expected at $0.25 versus $0.43.
- •Third-quarter revenue rose 21% year over year to $16.5 billion, and Data Center and AI revenue jumped 78% to $7.3 billion.
- •Intel said manufacturing and packaging constraints are limiting its ability to meet strong AI server-chip demand. It expects no positive free cash flow next year and sees the PC market contracting through 2027.
By Jose Antonio Lanz
