Intel (INTC) Stock Tumbles 26% as PC Weakness Overshadows AI Demand
Photo: CoinCentral
TLDR Intel (INTC) stock fell about 26% to around $68 in premarket trading Friday, from a $92.07 close Thursday. Q3 adjusted EPS of 52 cents beat the 41 cents expected, and revenue rose 21% to $16.5 billion. Q4 guidance missed: EPS of 25 cents versus 45 cents expected, and revenue of $15 billion to $16 billion versus about $17.3 billion. PC revenue weakened and an Israel plant explosion cut about $300 million from Q4 revenue. Data center and AI revenue jumped 78%, and foundry revenue rose 58% to $6.7 billion.
Source: CoinCentral
