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The drop held and deepened: Intel finished Friday down about 29%, the worst session for the stock since the 1970s.
The behind it is 25 cents a share of adjusted earnings on $15 billion to $16 billion of revenue, against estimates of 43 cents and $17.1 billion. Chief executive Lip-Bu Tan blamed an explosion at its Israel for an "extended shutdown" worth about $600 million of revenue over two quarters, and the finance chief expects the PC slowdown to last "at least through the first half of next year."
The US government's roughly 10% stake lost about $12 billion of value and Nvidia's about $6 billion.
The rest of the sector followed: Qualcomm fell 11%, Broadcom more than 5% and Nvidia 4%, and the Nasdaq Composite closed down 2.9% the day after Alphabet's record fall. Amazon ended down only 1.4% after its miss.
Intel closes down 29%, its worst day since the 1970s, and takes the chip index with it
The premarket drop held and deepened: Intel finished Friday down about 29%, the worst session for the stock since the 1970s. The guidance behind it is 25 cents a share of adjusted earnings on $15 billion to $16 billion of revenue, against estimates of 43 cents and $17.1 billion. Chief executive Lip-Bu Tan blamed an explosion at its Israel fab for an "extended shutdown" worth about $600 million of revenue over two quarters, and the finance chief expects the PC slowdown to last "at least through the first half of next year." The US government's roughly 10% stake lost about $12 billion of value and Nvidia's about $6 billion. The rest of the sector followed: Qualcomm fell 11%, Broadcom more than 5% and Nvidia 4%, and the Nasdaq Composite closed down 2.9% the day after Alphabet's record fall. Amazon ended down only 1.4% after its miss. SourcesBB
Sources
- BIntel stock has worst day since 1970s (CNBC)cnbc.com
- BChip stocks crash (Livemint)livemint.com
This story ran in the Afternoon Brief of October 30th 2026.