Intel Plummets 23% as Weak Guidance Overpowers Q3 Earnings Beat
Photo: Coinpedia
Intel stock has dipped 23.04% after weaker-than-expected Q4 guidance due to declining PC demand, manufacturing disruption and high CapEx. The company outdid several Wall Street estimates, including net revenue and EPS, but missed on PC chips revenue. Analysts are maintaining a collective "overweight" rating reflecting the long-term AI turnaround shared by CEO Lip-Bu Tan. Intel Corporation stock (Nasdaq: INTC) has dropped a massive 23.04% in after hours to trade at $70.86 after communicating severe Q4 guidance cuts, prolonged slump in personal computer (PC) demand and manufacturing disruptions. Intel’s performance outdid Wall Street estimates across several financial benchmarks.
Source: Coinpedia
