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Intel foundry push faces critical test after stock's 45% plunge in October

Intel's stock has plunged 45% in October, its worst monthly drop since the 1970s, amid a weak PC outlook and pressure on its foundry business. The company faces a critical test in proving its foundry strategy can deliver, as customers look for signs it will add fab capacity and catch TSMC. Intel's turnaround hinges on securing major external clients based on its next-generation 18A process.

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  • ✓ Intel's stock plunged nearly 29% on one day, its worst day since 1974.
  • ✓ Intel's stock fell 45% in October, its worst month on record.
  • ✓ The decline in Intel's stock knocked $12 billion from the government's stake.
  • ✓ Intel's foundry push faces a critical test after its stock's 45% plunge in October.
🛡️ Source Corroboration: 14 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

Intel's stock price continued to decline in premarket trading, with a 25% plunge on one day, as investors react to the company's earnings report and outlook.

Live updates

  1. Intel stock plummets 45% in October, foundry push faces critical test

    Intel's stock has plunged 45% in October, its worst monthly drop since the 1970s, amid a weak PC outlook and pressure on its foundry business. The company faces a critical test in proving its foundry strategy can deliver, as customers look for signs it will add fab capacity and catch TSMC. Intel's turnaround hinges on securing major external clients based on its next-generation 18A process.

    Why it matters

    The decline in Intel's stock follows a revenue miss and a worsening outlook for the PC market. The company's foundry business, which aims to manufacture chips for external clients, is under scrutiny. Intel must demonstrate its ability to compete with Taiwan Semiconductor Manufacturing Company (TSMC) and other foundry giants.

    What is confirmed

    • Intel's stock plunged nearly 29% on one day, its worst day since 1974.
    • Intel's stock fell 45% in October, its worst month on record.
    • The decline in Intel's stock knocked $12 billion from the government's stake.
    • Intel's foundry push faces a critical test after its stock's 45% plunge in October.

    Still unconfirmed

    • Intel must secure major external clients based on its next-generation 18A process.

    What to watch next

    • Intel's earnings report and guidance
    • Signs of Intel adding fab capacity
    • Progress on Intel's 18A process and client acquisitions
    Sources used for this update (16)
    1. CNBC — Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings
    2. Yahoo Finance — Intel stock plunges nearly 29%, its worst day since 1974
    3. TechCrunch — Intel’s stock crashes, knocking $12B from government’s stake
    4. Yahoo Finance — The Intel stock collapse is getting worse — and the $3.7 trillion chip rout is spreading
    5. CNBC — Intel foundry push faces critical test after stock's 45% plunge in October
    6. Trefis — Why Is Intel Stock Falling?
    7. Seeking Alpha — Intel: I Told You To Sell, Now I'm Telling You To Stay Away (Rating Upgrade)
    8. www.cnbc.com — Intel foundry push faces critical test after stock's 45% ...
    9. Barchart.com — Despite the Selloff, Intel Stock Still Lacks a Strong Buy Case
    10. Seeking Alpha — Intel: A New Setback Rightfully Leaves Investors Rightfully Disappointed
    11. Yahoo! Finance Canada — Intel Corporation (INTC) Stock Forecasts
    12. The Globe and Mail — INTC Q3 Earnings Call Highlights AI Demand and PC Weakness
    confidence 85%
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