{
  "id": 17375650,
  "title": "Intel stock falls most since 1974 as Israel plant shutdown hits; US stake loses $12B",
  "url": "https://urgent.news/2026/10/31/intel-stock-falls-most-since-1974-as-israel-plant-shutdown-hits-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T06:41:08.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/technology/tech-news/intel-stock-sees-worst-fall-since-1970-plant-shutdown-in-israel-hurt-us-government-loses-billions/articleshow/135391601.cms"
  },
  "original_language": "en",
  "account": "Intel's stock plummeted 28.58% on Friday, reaching $65.76, marking its worst day since 1974 and its second-largest decline on record. The sharp drop followed a forecast that fell short of expectations, mainly due to an extended shutdown at an Israeli chip plant and ongoing struggles in the personal computer market. The sell-off erased approximately $12 billion from the US government's stake in Intel, though the investment remained profitable. This setback also dealt a blow to Intel's CEO, Lip-Bu Tan, who had been attempting to reverse the company's fortunes with a 150% gain in shares over the past year. Intel expects the Israeli plant disruption alone to cost around $600 million in revenue over the next two quarters.\n\nThe explosion at the Israeli fabrication plant, which killed two workers and injured another, caused an \"extended shutdown\" affecting shipments of 10-nanometre chips. Intel's finance chief, David Zinsner, confirmed the lost revenue would total about $600 million over two quarters. The disruption compounds the impact of a slowing PC market, where rising costs for memory and other components are dampening demand. Global PC shipments declined by 4% in the second quarter compared to the previous year, according to Counterpoint Research.\n\nIntel's revenue forecast for the current quarter fell to $15 billion to $16 billion, below analysts' expectations of $17.1 billion. The company also projected adjusted earnings of 25 cents per share, which was lower than the previously anticipated 43 cents per share. CEO Tan acknowledged the PC slowdown would persist at least through the first half of next year and emphasized that the company would continue making strategic investments to boost capacity and working capital to support future growth.",
  "summary": "Intel shares dropped substantially after the company provided a disappointing forecast concerning its earnings. The decline was influenced by a significant disruption at a fabrication plant in Israel, which caused an extended shutdown. Analysts noted ongoing weakness in the personal computer market impacting overall demand and revenue projections. Intel estimated a revenue loss of approximately…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}