Intel shares plunge 29% as government stake loses $11 billion

Intel (INTC) stock fell 29% on Friday after the company guided below estimates, erasing approximately $11 billion from the U.S. government's stake. The loss follows Intel's first earnings miss in four quarters, with revenue slightly below expectations and a disappointing fourth-quarter outlook. Weak personal computer demand and high memory chip prices dragged results, while supply issues and an October explosion at an Israeli chip plant further impacted the data center segment. Despite the sell-off, the government's remaining stake still shows a near $20 billion gain based on an average purchase price of $20.47 per share.