Intel Stock Plunges 26% in Worst Day Since 1974
Intel's stock dropped 26% Friday, erasing $100 billion in market value as its fourth-quarter forecast missed Wall Street expectations.
In brief
Intel's stock dropped 26% Friday, erasing $100 billion in market value as its fourth-quarter forecast missed Wall Street expectations. Intel's stock fell 26% Friday, erasing $100 billion in market value after reporting fourth-quarter revenue below analyst expectations. Originally reported by Aol.
Intel Stock Drops 26%
Intel's stock fell as much as 26% Friday after its fourth-quarter revenue forecast missed Wall Street expectations.
Worst Day Since 1974
Only two days in Intel's history were worse, with the deepest drops occurring on July 5, 1974 (29.9%) and August 2, 2024 (26.1%).
Market Value Eroded
The stock erased more than $100 billion in market value Friday, marking its worst day since 1974.
PC Market Decline
Intel expects PC shipments to fall 12% this year and another 10% in 2027 due to rising memory chip prices.
Israel Factory Accident
An accident at Intel's Israel factory will cost about $300 million in fourth-quarter revenue.
The short version
Intel's stock fell 26% Friday, erasing $100 billion in market value after reporting fourth-quarter revenue below analyst expectations.
