Intel shares fell 28.73% on Friday after its third-quarter report, and the selloff spread to index and sector ETFs holding the stock, such as QQQ and SMH. Intel beat expectations with non-GAAP EPS of $0.52 and revenue of $16.51 billion, but its fourth-quarter outlook of $15.0 billion to $16.0 billion in revenue and $0.25 in non-GAAP EPS, plus expected client revenue declines of more than 20% sequentially, weighed on sentiment. An extended shutdown at its Israel factory is expected to cut fourth-quarter revenue by about $300 million and gross margin by 200 basis points, and the CFO said Intel does not expect positive free cash flow in 2027. The article estimates Intel alone reduced SMH by about 1.48 percentage points and QQQ by about 0.87 percentage points, with Nvidia also a large holding in both funds.
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SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.53 |
| Change that session | -0.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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