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Intel Stock Plummets 28.5% on Wall Street, Worst Day Since 1974 Possible
Intel's stock plunged nearly 29% on Wall Street Friday, potentially marking its worst trading day since 1974, after issuing a weak fourth-quarter forecast. The company cited a prolonged slowdown in the PC market and a $600 million revenue hit from an Israeli factory explosion.
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What happened
- 01Intel stock dropped 28.5% on Wall Street, potentially its worst day since 1974.
- 02The company issued a weak fourth-quarter forecast, projecting lower revenues and earnings.
- 03An explosion at an Intel factory in Israel is expected to cost the company $600 million.
- 04Intel anticipates a slowdown in the PC market to continue until mid-2027.
- 05Major tech stocks and indices also experienced significant declines on Friday.
Despite strong third-quarter results, the bleak outlook overshadowed positive performance in data center and AI operations.
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