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Intel Stock Plummets After Disappointing Q3 Results
30 Oct
Summary
- Intel shares dropped 23% in extended trading after Q3 results.
- AI and data center growth offset a decline in client computing.
- An explosion at its Israel fab cost Intel $600 million in revenue.
Intel Corp. (INTC) saw its stock price plunge by 23% in after-hours trading on Thursday, October 30, 2026, after its third-quarter financial results fell short of investor expectations. The chipmaker reported revenue of $16.5 billion, which was in line with projections, and an Earnings Per Share (EPS) of $0.52, slightly above the expected $0.4. Revenue had grown 21% year-over-year.
The company's performance was mixed, with its AI and data center business surging 78% compared to last year. However, the client computing segment experienced a 5% decline. Looking ahead, Intel provided a cautious forecast for the ongoing quarter, projecting EPS between $0.25 and an estimated $0.23, and revenue between $15 billion to $16 billion, falling below the analyst consensus of $17.1 billion.
Chief Financial Officer David Zinsner indicated that the slowdown in the PC segment is anticipated to persist through the first half of the coming year. This outlook is partly attributed to an explosion at Intel's Israel fabrication plant earlier this month, which has resulted in an estimated $600 million loss in revenue across two quarters. Concurrently, global PC shipments have seen a 4% decrease in the second quarter compared to the previous year, driven by rising component costs.
Intel's recent gains, which saw its stock up over 200% year-to-date at one point, were significantly impacted by this downturn. The disappointing news from Intel also affected its competitors, with AMD, NVIDIA, Qualcomm, Broadcom, and Micron all experiencing stock declines in extended trading.
