Why Intel’s stock saw its worst day in decades
Intel shares plummeted nearly 29% on Friday, erasing nearly $140 billion in market value. The crash followed disappointing fourth-quarter guidance and a weak market for personal computer chips. This decline made Intel the worst performing S&P 500 stock for October. While the company reported that its data center business grew almost 80% over the past year, the negative outlook for the final quarter of the year drove the selloff. The drop also reduced the value of the U.S. government's stake in the company by $12 billion.
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- ✓ Intel stock fell nearly 29% on Friday, marking its worst day since 1974.
- ✓ The stock decline erased nearly $140 billion in market value.
- ✓ Intel was October's worst performing S&P 500 stock.
- ✓ The company's data center business grew almost 80% in one year.
What changed
Intel's fourth-quarter guidance triggered a nearly 29% stock plunge and a $140 billion loss in market value.
Live updates
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Intel stock suffers worst day since 1974 after weak guidance
Intel shares plummeted nearly 29% on Friday, erasing nearly $140 billion in market value. The crash followed disappointing fourth-quarter guidance and a weak market for personal computer chips. This decline made Intel the worst performing S&P 500 stock for October. While the company reported that its data center business grew almost 80% over the past year, the negative outlook for the final quarter of the year drove the selloff. The drop also reduced the value of the U.S. government's stake in the company by $12 billion.
Why it matters
Intel is a primary provider of chips for personal computers and data centers. This volatility reflects broader market pressure on chipmakers, which recently saw AMD stock caught in the same selloff. The magnitude of the loss highlights significant investor concern over the company's near-term growth trajectory.
What is confirmed
- Intel stock fell nearly 29% on Friday, marking its worst day since 1974.
- The stock decline erased nearly $140 billion in market value.
- Intel was October's worst performing S&P 500 stock.
- The company's data center business grew almost 80% in one year.
Still unconfirmed
- The stock plunge reduced the U.S. government's stake by $12 billion.
- Intel's outlook was hurt specifically by a weak market for personal computer chips.
What to watch next
- Further reactions from the S&P 500 to Intel's fourth-quarter guidance
- Performance of other chipmakers like AMD following the selloff
confidence 90%Sources used for this update (18)
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
- economictimes.indiatimes.com — Berkshire Hathaway stock price
- www.globalbankingandfinance.com — Latest Banking & Finance News & Analysis
- Bloomberg.com — Intel Outlook Hurt by Weak Market for Personal Computer Chips
- CNBC — Amazon falls 7%, Intel plunges 25% in premarket trading, as pressure mounts after earnings
- Yahoo Finance — Intel stock plunges nearly 29%, its worst day since 1974
- Barron's — Intel’s Plunge Today Makes It October’s Worst S&P 500 Stock. Accenture Is the Biggest Winner.
- MarketWatch — Why Intel’s stock saw its worst day in decades — and a $140 billion wipeout
- www.fool.com — Why Intel Stock Crashed on Friday | The Motley Fool
- global.morningstar.com — The Autumn Budget Explained in 2 Minutes
- finance.yahoo.com — Intel stock plunges nearly 29%, its worst day since 1974
- finance.yahoo.com — AMD Stock Got Caught in Intel’s Selloff. What to Watch This Week.
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