Intel (INTC) stock is down today after the chipmaker forecast fourth-quarter sales and profit well below Wall Street estimates. Intel said the PC slowdown will last at least through the first half of 2027. Higher memory prices are raising PC costs and weighing on demand.
As of 12:19 PM ET, Intel was down 29.5% at $64.85, while the S&P 500 was down 1.6%. The stock fell as much as 30.3% earlier in the session.
Intel expects fourth-quarter revenue of $15 billion to $16 billion, below the roughly $17.1 billion analysts expected
It sees adjusted earnings of 25 cents a share, versus about 43 cents expected
PC chip revenue fell 5% to $8.1 billion last quarter, and Intel expects it to drop more than 20% this quarter
Data center and AI revenue jumped 78% to $7.3 billion, helping total revenue rise 21% to $16.5 billion
A close at this level would be Intel’s worst day on record, topping a 26% drop in August 2024. The stock is still up more than 70% in 2026. Rival AMD and other chipmakers fell too, the latest sign that strong quarters aren’t enough in the AI spending era.
More stock moves are on our stocks page.
Data center demand is booming. It just can’t cover for the PC slump yet.
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