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Intel stock plunges nearly 30%, on pace for its worst day since 1974

Intel's stock price has plummeted, with reports indicating a decline of nearly 30%, marking its worst day since 1974. The chipmaker's weak guidance, attributed to a PC slowdown, has triggered a global chip rout. Intel's data center business is booming, but the weak outlook has led to a significant drop in stock value.

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  • ✓ Intel stock plunged nearly 30%, on pace for its worst day since 1974.
  • ✓ Intel's weak guidance, attributed to a PC slowdown, triggered a global chip rout.
  • ✓ The stock price fell by 20-29% in a single day, with multiple sources reporting similar declines.
🛡️ Source Corroboration: 10 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

Intel's stock price continued to plummet, with reports indicating a decline of nearly 30%, as the company's weak guidance and global chip rout weighed heavily on investors.

Live updates

  1. Intel stock plunges nearly 30%, on pace for worst day since 1974

    Intel's stock price has plummeted, with reports indicating a decline of nearly 30%, marking its worst day since 1974. The chipmaker's weak guidance, attributed to a PC slowdown, has triggered a global chip rout. Intel's data center business is booming, but the weak outlook has led to a significant drop in stock value.

    Why it matters

    The sharp decline in Intel's stock price has significant implications for the technology sector and the global economy. The company's performance is closely watched as a bellwether for the industry. Intel's struggles may be attributed to increased competition and a slowdown in PC sales. The company's future prospects will be closely monitored by investors and analysts.

    What is confirmed

    • Intel stock plunged nearly 30%, on pace for its worst day since 1974.
    • Intel's weak guidance, attributed to a PC slowdown, triggered a global chip rout.
    • The stock price fell by 20-29% in a single day, with multiple sources reporting similar declines.

    Still unconfirmed

    • Intel Israel workers fear layoffs after 30% stock plunge.

    What to watch next

    • Intel's future earnings reports
    • Global chip market trends
    • PC sales forecasts
    Sources used for this update (10)
    1. CNBC — Intel stock plunges 20% as chipmaker blames PC slowdown for weak guidance
    2. Business Insider — Intel shares plunge 25% as it warns that the AI boom's thirst for chips is hurting business
    3. Yahoo Finance — Intel stock plunges nearly 30%, on pace for its worst day since 1974
    4. Reuters — Intel on course for worst day ever, triggers global chip rout
    5. WSJ — Why Intel Is Down 28%
    6. note.com — Intel (INTC) plunges after earnings. Has it fallen enough? Calculating fair value from financial statements
    7. finance.yahoo.com — Intel stock plunges nearly 30%, on pace for its worst day ...
    8. www.aol.com — Intel plunges as much as 26%, briefly on pace for its worst ...
    9. www.newsbreak.com — QUICK SPARK: Intel Stock Drops 28%, Eyes Worst Day Since July ...
    10. www.ynetnews.com — ‘We thought the worst was over’: Intel Israel workers fear layoffs after 30% stock plunge
    confidence 85%
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