Intel shares plunged in extended trading after the chipmaker issued a weak fourth-quarter forecast, citing continued softness in the PC market. In the third quarter, adjusted EPS was 52 cents versus 40 cents expected, and revenue was $16.51 billion, up 21% from $13.7 billion a year earlier. Revenue in the client computing and physical AI group fell 5% to $8.1 billion, while data center and AI revenue jumped 78% to $7.3 billion. Counterpoint Research said global PC shipments fell 4% in the second quarter due to soaring memory and component costs. For the fourth quarter, Intel guided to adjusted EPS of 25 cents and revenue of $15 billion to $16 billion, below the $17.1 billion and 43 cents analysts expected, according to LSEG.
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