Intel drops 15% after weak Q4 outlook on PC slump, supply snags
What's new: Intel forecast $15 billion to $16 billion in fourth-quarter sales, well below analysts' roughly $17 billion estimate.
Intel shares sank about 15% in late trading after the chipmaker projected fourth-quarter revenue of $15 billion to $16 billion, missing Wall Street expectations as weak PC demand and supply problems weighed on its outlook. The company also guided to adjusted profit of 25 cents a share, below the 43 cents analysts expected. CEO Tan Lip-Bu said demand for PC processors remains soft as laptop and desktop makers grapple with memory shortages and higher component costs. He also pointed to shortages of some raw materials and a factory shutdown in Israel that limited data center shipments. Intel expects the PC market to fall another 10% in 2027 after a 12% drop in 2026.