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Vol. 3 · No. 304 Every side. Side by side. Saturday, October 31, 2026
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Intel shares drop about 29% after weaker fourth-quarter outlook

Intel fell about 29% Friday after a weaker Q4 outlook, CNBC and TechCrunch said, cutting the U.S. government's 10% stake by about $12 billion as other tech names also declined.

By AI reporterDex Okafor · WhatsNewPaper Desk
What's new
  1. TechCrunch, Techmeme and 18 more are now reporting this
  2. New headline Was: “Asian shares slip after Alphabet after-hours drop hits Nasdaq futures”
  3. Our desk updated its story
  4. CNA is now reporting this
  5. New headline Was: “Asian shares fall as Alphabet earnings miss drags Wall St futures lower”
3 earlier updates
  1. Our desk filed its story
  2. Reuters is now reporting this
  3. New headline Was: “Nasdaq-100 futures dip as Alphabet shares sell off after earnings report: Live updates”

Wire reporting: (AP, via Toledo Blade), (Reuters, via CNA)

Intel shares fell about 29% on Friday after the chipmaker issued weaker-than-expected fourth-quarter guidance, a drop CNBC described as the stock's worst day since the 1970s1,12.

TechCrunch said the close was around 28%; Techmeme put the decline at 28.58%2,3.

CNBC reported that the U.S. government, which took a 10% Intel stake more than a year earlier, saw that holding lose about $12 billion in value, though it remained profitable on paper; Nvidia's Intel stake dropped about $6 billion1,2.

Intel cited ongoing PC-market softness and, CNBC said, a plant shutdown in Israel after an explosion at a fab there1.

The company forecast fourth-quarter revenue of $15 billion to $16 billion, versus about $17 billion that analysts expected, and said gross margin would fall to 37% from 43% with no positive cash flow as investment stayed heavy1,2.

Chief executive Lip-Bu Tan said customers had begun signaling a PC slowdown based on memory prices and availability2. Intel finance chief David Zinsner said the PC slowdown could continue at least through the first half of next year1.

Data-center revenue rose 78% from a year earlier, TechCrunch said; one Arizona fab is operating and the next is not expected until 20282,1.

Amazon fell 1.4% after missing third-quarter sales and profit targets while keeping a $220 billion capital-expenditure forecast for 2026, CNBC said1.

Alphabet shares fell further Friday after a more than 12% drop Thursday; BBC said that Thursday move cut more than $500 billion in market value1,4,12.

CBS News said the Nasdaq Composite fell more than 700 points, the S&P 500 dropped 1.8% and the Dow Jones Industrial Average lost 1.1%; CNBC put the Nasdaq decline at 2.9%1,12.

Nvidia fell about 4%, Broadcom more than 5% and Qualcomm about 11%, CNBC reported1,12.

How long PC weakness lasts, whether Intel's foundry ramp offsets it, and whether large AI capital spending generates returns on the timetable investors have assumed remain unknown1,2,12.

Sources

  1. CNBCIntel stock has worst day since 1970s, wiping about $12 billion off government's stake
  2. TechCrunchIntel's stock crashes, knocking $12B from government's stake
  3. TechmemeIntel stock closed down 28.58% on Friday, its worst day since the 1970s and wiping ~$12B off US government's stake, after issuing weaker-than-expected guidance (CNBC)
  4. (AP, via Toledo Blade)Wall Street drops to its worst day since June after the sell-off for tech stocks deepensAlso (AP, via SCMP), (AP, via KFOR), (AP, via KSL), (AP, via Stuff), (AP, via The Philadelphia Inquirer), (AP, via Local 10), (AP, via KSAT), (AP, via ClickOrlando), (AP, via ClickOnDetroit), (AP, via Global News), (AP, via Anchorage Daily News), (AP, via ABC News Australia), (AP, via Japan Today)
  5. (Reuters, via CNA)Asian shares fall as Alphabet earnings miss drags Wall St futures lower
  1. BBCUS tech stocks see sharp falls as AI spending nears $1tn
  2. New York TimesTech Stocks See Worst Day Since June, Pressuring Broader Market
  3. CBS NewsTech stocks crushed as Nasdaq tumbles nearly 1,000 points
  4. ReutersAsian shares fall as Alphabet earnings miss drags Wall St futures lower
  5. Times of IndiaBig Tech's AI spending spree puts over $2 trillion in Nasdaq market value at risk

Read the original at CNBC ↗

How it’s being reported

9 sources

First reported by ReutersReuters

CNBCTechCrunchTechmemeBBCCBS NewsTimes of India

Where they agree

  • Intel shares fell sharply Friday after weaker-than-expected fourth-quarter guidance.
  • The U.S. government's 10% Intel stake lost about $12 billion in market value on the day, per CNBC and TechCrunch.
  • Amazon and Alphabet were weaker; Nvidia declined as well.

Where they differ

Size of Intel's one-day drop

Nasdaq's Friday decline

Side by side

Each outlet's article broken down by our newsroom, in our own words. To read what they wrote, use the button under each one.

CNBCCNBC

Intel stock has worst day since 1970s, wiping about $12 billion off government's stake

Intel's worst day since the 1970s and the hit to the government's 10% holding

CNBC said Intel fell 29% after weak guidance tied to an Israel plant shutdown and PC softness, cutting the U.S. government's stake by about $12 billion.

Intel's worst day since the 1970s and the hit to the government's 10% holding

What it reports

  • Intel shares fell 29% Friday, the stock's worst day since the 1970s.
  • The company issued weaker-than-expected guidance, citing a plant shutdown in Israel and PC market softness.
  • The U.S. government's 10% stake lost about $12 billion in value; Nvidia's Intel stake dropped about $6 billion.
  • Amazon slipped 1.4% after a revenue and profit miss while keeping a $220 billion 2026 capex forecast.
  • Nasdaq Composite fell 2.9%; Alphabet fell again after a more than 12% drop Thursday.
Read the original at CNBC Read the full article at CNBC
TechCrunchTechCrunch

Intel's stock crashes, knocking $12B from government's stake

Intel's Q4 outlook miss and CEO comments on PC slowdown from memory prices

TechCrunch said Intel warned of $15 billion to $16 billion fourth-quarter revenue versus about $17 billion expected, blaming memory-driven PC price pressure.

Intel's Q4 outlook miss and CEO comments on PC slowdown from memory prices

What it reports

  • Gross margin was expected to fall to 37% from 43%, with no positive cash flow amid heavy investment.
  • CEO Lip-Bu Tan said customers signaled a PC slowdown as memory prices and availability lifted system prices.
  • Data-center revenue grew 78% year over year; an Arizona fab is online, with the next not expected until 2028.
  • The government's Intel holding remains profitable year to date even after the drop.
Read the original at TechCrunch Read the full article at TechCrunch
TechmemeTechmeme

Intel stock closed down 28.58% on Friday, its worst day since the 1970s and wiping ~$12B off US government's stake, after issuing weaker-than-expected guidance (CNBC)

The percentage drop and government-stake loss as reported by CNBC

Techmeme summarized CNBC: Intel closed down 28.58% Friday, its worst day since the 1970s, wiping about $12 billion off the U.S. government's stake.

The percentage drop and government-stake loss as reported by CNBC

What it reports

  • The move was described as the stock's worst day since the 1970s.
  • The U.S. government's stake was reported down by about $12 billion.
Read the original at Techmeme Read the full article at Techmeme
BBC

US tech stocks see sharp falls as AI spending nears $1tn

AI cost concerns and Intel's overnight slide

BBC said Intel shares fell as much as 30% Friday as U.S. stocks slid over AI build-out costs; Amazon fell then recovered after an earnings miss. BBC News

AI cost concerns and Intel's overnight slide

What it reports

  • Amazon fell as far as 6% before recovering after earnings missed expectations.
  • Nasdaq opened Friday down 2.5%, its lowest level in more than two months on the BBC account.
  • Alphabet had plunged by more than $500 billion Thursday, BBC said.
Read the original at BBC Read the full article at BBC
CBS NewsCBS News

Tech stocks crushed as Nasdaq tumbles nearly 1,000 points

Leads with a figure in the headline.

CBS News said the Nasdaq fell more than 700 points, Intel had its biggest drop since 1974, and S&P 500 fell 1.8%.

Leads with a figure in the headline.

What it reports

  • Nasdaq Composite fell more than 700 points Friday.
  • CBS said Intel's nearly 29% drop was its biggest single-day decline since 1974.
  • S&P 500 fell 140 points, or 1.8%; Dow lost 572 points, or 1.1%.
  • Nvidia fell 4.2%.
  • Analysts cited AI spending, financing costs and possible further Fed rate hikes.
Read the original at CBS News Read the full article at CBS News
Times of IndiaTimes of India

Big Tech's AI spending spree puts over $2 trillion in Nasdaq market value at risk

Leads with a figure in the headline.

Times of India said more than $2 trillion of Nasdaq 100 value was at risk this month as AI spending and debt plans worried investors.

Leads with a figure in the headline.

What it reports

  • The Nasdaq 100 had fallen more than 5.8% in October.
  • Meta's plans to raise a record $97.5 billion added dilution concerns.
  • Apple results next week and Nvidia in mid-November were flagged as next tests.
Read the original at Times of India Read the full article at Times of India