{
  "id": 17406385,
  "title": "Intel stock plunges nearly 30%, its worst day in 52 years",
  "url": "https://urgent.news/2026/10/31/intel-stock-plunges-nearly-30-its-worst-day-in-52-years",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T13:12:00.000Z",
  "source": {
    "name": "TechSpot",
    "slug": "techspot",
    "url": "https://www.techspot.com/news/114402-intel-stock-plunges-nearly-30-worst-day-52.html"
  },
  "original_language": "en",
  "account": "Intel's stock price plummeted nearly 30% on Friday, marking its worst day in 52 years. This steep decline follows a record-high surge earlier in June, driven by the demand for CPUs powering advanced artificial intelligence. Despite beating earnings estimates and reporting a significant increase in data center revenue, Intel's forecast for the final quarter of the year fell short. Analysts predicted about $17 billion in revenue, while Intel only anticipates between $15 billion and $16 billion. The primary culprit is the high demand for memory in AI data centers, which has driven up the prices of laptops and desktops, leading to a projected 12% drop in PC shipments for 2026 and an additional 10% decline in 2027. The forecast also accounts for a recent factory shutdown at Intel's facility in Kiryat Gat, Israel, resulting from a deadly explosion. The company's stock was downgraded to neutral by several major financial institutions, and the US government's 10% stake saw a $12 billion decrease in paper value. Despite the turmoil, Intel's shares remain valued over three times their 2023 price. This stock slide follows Alphabet's record single-day loss and Meta's underwhelming earnings, all currently trading below their 52-week highs. Samsung and SK Hynix, major memory producers, also saw declines, contributing to a 3.5% drop in South Korea's KOSPI index. The memory boom impacting Intel's PC business is now affecting its largest supporters in the tech sector. For consumers looking to purchase a PC, there are no signs of reduced hardware costs in the near future, with memory prices potentially continuing to rise until 2028.",
  "summary": "Oddly enough, the quarter itself went well. Intel beat Wall Street's earnings estimates. Its data center revenue jumped nearly 80% from a year earlier to $7.3 billion, too. But its forecast for the last three months of the year landed well short: analysts had penciled in about $17 billion in... Read Entire Article",
  "key_points": [
    "Intel's stock drops 29% on worst day in 52 years",
    "Revenue forecast for Q4 falls short of $17 billion prediction",
    "Memory demand surge drives PC shipment decline and price hikes"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNBC",
        "title": "Intel stock plunges 29%. Analysts urge caution on buying the dip",
        "url": "https://urgent.news/2026/10/31/intel-stock-plunges-29-analysts-urge-caution-on-buying-the-dip",
        "published": "2026-10-31T13:02:22.000Z"
      }
    ]
  },
  "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."
}