Intel Shares Drop 29% Following Weak Fourth-Quarter Guidance
Intel Corporation (INTC) experienced a significant sell-off on Friday, with shares plummeting nearly 29% to close at $65.76. Despite reporting a solid third-quarter earnings beat, the company's outlook for the fourth quarter fell significantly short of Wall Street expectations, triggering a massive market reaction. The decline was accompanied by heavy trading activity, with volume surging to approximately 399 million shares. This sharp drop reflects investor concerns regarding Intel's near-term revenue trajectory and its ability to meet growth targets in the upcoming quarter.
Tickers: $INTC
Topics: Intel Corporation Quarterly Guidance Semiconductor Industry Stock Price Decline