Intel Shares Fall 45% in October After Weak Quarterly Outlook

Intel shares fell 45% in October, the steepest monthly decline in the company’s history, as weak PC demand and a production shift intensified questions about its foundry ambitions. The stock dropped 29% in October’s final trading session, its largest one-day decline since the 1970s, then lost another 8% in November’s first session. Intel expects quarterly revenue to come in $1 billion to $2 billion below analyst forecasts. The company cited weak PC demand and higher memory and other component costs.

Source: TokenPost