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Intel and Amazon lead a Friday selloff, a day after Alphabet's worst session on record
Intel traded at $68.98 before the open on Friday, down 25.1% from Thursday's $92.07 close, after guiding fourth-quarter revenue to $15 billion to $16 billion against about $17.05 billion expected and adjusted to 38% against 42.8%. Chief executive Lip-Bu Tan said customers "began signaling a PC slowdown based on the memory prices and availability." The memory shortage the chipmakers have been celebrating all week is now taking revenue from the companies that buy memory.
Amazon fell about 7% . Its over the 12 months to September was an outflow of more than $42 billion, against a previous worst of about $23 billion in 2022, on third-quarter capital spending of about $77 billion. Nasdaq-100 futures were down 2.5% at 8:27 a.m. Eastern. On Thursday Alphabet closed down about 13% (some reports say 12.6%), its worst day on record and, by Bloomberg's count, the second-largest one-day loss of market value in US history, behind Nvidia's in January 2025. ServiceNow closed down 27%, its worst day ever.
Premarket figures move by the minute: Intel's drop has been reported anywhere from 21% to 27% depending on the timestamp. SourcesBBC
Sources
- BStock market today: Nasdaq futures dive as Amazon, Intel earnings rattle investors (Yahoo Finance)finance.yahoo.com
- BTech stocks slide as Alphabet's record plunge revives AI fears (The National, Bloomberg)thenationalnews.com
- CIntel's guidance sends shares plunging 25% premarket (BigGo Finance)finance.biggo.com
This story ran in the Morning Brief of October 30th 2026.