Intel Shares Drop Nearly 30% After Q4 Forecast Misses Wall Street Expectations

Intel’s stock fell to $65.76, a nearly 30% plunge that erased more than $146 billion in market value, following the company’s fourth‑quarter outlook. Intel projected Q4 revenue of $15 billion to $16 billion—below the $17.07 billion consensus—and adjusted earnings per share of $0.25 versus the $0.43 expected by analysts. The company cited weaker PC demand, manufacturing and packaging constraints that limit AI server processor production, and a factory accident in Israel as key factors. Despite a strong third‑quarter performance, with revenue up 21% to $16.5 billion and a Data Center & AI division generating $7.3 billion, the outlook signals a continued struggle to capitalize on booming AI demand while its traditional PC business contracts. Intel warned that it may not generate positive free cash flow in 2025 and that 2027 will be an investment year.