Intel Shares Plunge Nearly 29% Following Weak Fourth-Quarter Guidance
Intel (INTC) experienced a massive sell-off on Friday, with shares dropping 28.58% to close at $65.76. Despite beating third-quarter earnings expectations and seeing a 78% year-over-year revenue surge in its Data Center and AI division, the company's disappointing fourth-quarter outlook triggered widespread investor concern. The decline was driven by warnings regarding weakening PC demand, manufacturing constraints, and heavy capital expenditures required for the company's ongoing turnaround. The volatility extended to the broader semiconductor sector, with major players like Advanced Micro Devices (AMD) and Nvidia (NVDA) also seeing significant declines as market sentiment shifted toward skepticism regarding AI-driven valuations.
Topics: Financial Outlook Quarterly Earnings Semiconductor Industry Stock Market Volatility