Intel shares fall 21% after weak fourth-quarter forecast blames PC slowdown
AIIntel shares plunged in extended trading after the chipmaker forecast fourth-quarter revenue of $15 billion to $16 billion and adjusted EPS of 25 cents, below analysts' expectations of $17.1 billion and 43 cents, according to LSEG. Intel finance chief David Zinsner says the PC slowdown will continue at least through the first half of next year. Third-quarter revenue rose 21% to $16.51 billion, while data center and AI revenue jumped 78% to $7.3 billion.
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CNBC · Technology · cnbc.comPublished · added here
Original title: Intel stock plunges 21% as chipmaker blames PC slowdown for weak guidance