Intel shares fall 28.6% after weak fourth-quarter forecast
The gist
Chipmaker Intel's stock closed at $65.76, down 28.58%, after its Q4 revenue forecast of $15.0–16.0 billion disappointed.
The drop erased over $140 billion in market value, deepening doubts about Intel's turnaround.
How it unfolded
- Aug 31, 2026Intel closed at $89.51, up 267.6% over the past year on the 18A ramp, an NVIDIA equity investment and AI momentum in its data center business.
- Oct 27, 2026Intel rose 3.61% to $93.74 on its third straight gain, with market capitalization at $468.083 billion.
- Oct 29, 2026Intel traded at $92.04, down 4%, adding to a 20% drop over the past month; Elon Musk's Terafab chip initiative confirmed active talks with Taiwan Semiconductor, clouding Intel's foundry story.