Intel's stock crashed around 28% on Friday, one of its worst days ever, after the chipmaker forecast weaker fourth-quarter results: revenue of $15–16 billion versus analysts' expected ~$17 billion, gross margin falling to 37% from 43%, and no positive cash flow. The drop cut $12 billion from the value of the government's 10% stake, bought under the Trump administration over a year ago. Intel is still up more than 70% this year, though well below its summer highs. CEO Lip-Bu Tan said customers signaled a PC slowdown due to rising memory prices and limited availability, while data center revenue grew 78% year over year. Intel's new Arizona fab is operational, but the next one isn't expected until 2028.
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