Intel Stock Crashes 28% After Q4 Warning Cuts Government Stake Value by $12 Billion
· Technology · TechCrunch, CNBC
Intel suffered one of its worst trading days on Friday, crashing around 28% after reporting a weaker-than-expected fourth-quarter outlook. The sharp sell-off reduced the value of the government's 10% stake by $12 billion. Intel warned of fourth-quarter revenue between $15 billion and $16 billion, falling short of analysts' expectations of around $17 billion. CEO Lip-Bu Tan attributed the slowdown to rising PC prices driven by memory shortages and component costs under pressure from the AI industry. Despite the drop, Intel's stock remains up more than 70% for the year.
Why it matters
The sharp decline in Intel's stock wipes out billions in public and private investments while exposing broader supply chain pressures across the global chipmaking sector.
Read the original report — TechCrunch
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