Intel plunges 29% on weak Q4 guidance (INTC:NASDAQ)

Intel (INTC) shares fell 28.58% to $65.76 on Friday, despite beating earnings expectations, due to a weak outlook. Trading volume surged to 447.8 million shares. The S&P 500 and Nasdaq Composite also declined, with AMD and Nvidia shares dropping. Intel's guidance raised concerns about PC demand and manufacturing constraints, though data center revenue grew 78% year-over-year to $7.3 billion.

U.S. stocks fell Friday, with the Nasdaq down 2.8%, as tech earnings disappointed. Amazon (-6%) missed expectations, reporting negative free cash flow. Intel (-5%) warned of slowing PC demand. Alphabet (-1.2%) faced AI spending scrutiny. AMD (-11%), Broadcom (-5%), and Nvidia (-4%) also declined.

Intel (INTC) stock fell 29% after its Q4 outlook missed expectations, despite strong Q3 earnings. The company expects lower revenue and earnings due to a PC market slump and factory issues. Analysts reacted negatively, with one cutting their price target. The drop erased $140B in market value. INTC is down 50% from its June peak but still up 80% YTD.

U.S. stocks fell on October 30, with the Nasdaq down 3% due to weak results from Amazon and Intel, raising concerns about AI spending. Intel shares dropped 30% on a weak outlook, while Amazon fell 2% after missing earnings estimates. Binance reported a $6.3B security breach, impacting crypto markets. Oil prices rose due to supply risks, and economic data showed slower momentum.

Intel's (INTC) stock dropped 29% on Friday, reducing the US government's stake value from $39.9B to $28.5B. The decline followed weak Q4 revenue guidance and lower PC revenue. The government initially invested at $20.47 per share, still profiting overall.

Alphabet's shares fell 12% after Q3 earnings missed expectations, with revenue at $127.6B and negative free cash flow of $9.1B. Intel's shares dropped 30% after a weak Q4 forecast and Israel plant explosion. Both companies face investor concerns over AI spending and future returns.