{
  "id": 17157962,
  "title": "Intel shares plummet more than 20% following weak guidance blamed on PC market slowdown",
  "url": "https://urgent.news/2026/10/30/intel-shares-plummet-more-than-20-following-weak-guidance-blamed-on",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T01:17:32.000Z",
  "source": {
    "name": "SiliconANGLE",
    "slug": "siliconangle",
    "url": "https://siliconangle.com/2026/10/29/shares-of-intel-plummet-more-than-20-following-weak-guidance-blamed-on-pc-market-slowdown/"
  },
  "original_language": "en",
  "account": "Intel's stock suffered a significant drop of over 20% following the company's weak guidance, attributed to a slowdown in the personal computer market. Despite beating expectations in the previous quarter, the company's forecast for the current period sparked panic among investors. Intel reported third-quarter earnings of 52 cents per share, surpassing Wall Street's guidance of 40 cents per share, with revenue for the quarter increasing by 21% to $16.51 billion. However, the company's client computing and physical AI business struggled, with revenue for these sectors falling 5% to $8.1 billion. The data center and AI unit, however, saw a surge in revenue by 78%, reaching $7.3 billion. The PC market downturn, driven by rising memory and component costs, was the primary reason for the weak guidance. Intel projected fourth-quarter earnings of about 25 cents per share, with revenue expected between $15 billion and $16 billion, far below analysts' targets. The company's finance chief, David Zinsner, stated that the PC slowdown would continue until at least the first half of next year. Intel also suffered a tragic loss when an explosion at one of its chip fabrication plants in Israel killed two workers and injured a third. This incident is estimated to cost the company $600 million in lost revenue over the next two quarters. Despite the challenges, Intel remains optimistic about the long-term demand for its CPUs, particularly in the era of agentic AI workloads where its chips are in high demand.",
  "summary": "Intel Corp. somehow managed to beat expectations despite facing softness in the personal computer market, but its weak forecast for the current quarter sparked panic among investors, and its stock plunged more than 22% in late trading today. The computer chipmaker reported third-quarter earnings before certain costs such as stock compensation of 52 cents per […] The post Intel shares plummet more…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Intel plunges after PC slump and supply snags hurt outlook",
        "url": "https://urgent.news/2026/10/29/intel-plunges-after-pc-slump-and-supply-snags-hurt-outlook",
        "published": "2026-10-29T22:41:58.000Z"
      },
      {
        "outlet": "Hindu BusinessLine",
        "title": "Intel shares plunge 21% as weak PC demand and supply shortages hit revenue outlook",
        "url": "https://urgent.news/2026/10/29/intel-shares-plunge-21-as-weak-pc-demand-and-supply-shortages-hit",
        "published": "2026-10-29T23:58:45.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}