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One Stock Just Suffered Its Worst Session in 50 Years, and the US Government Takes a $12 Billion Hit

Intel shares fell about 29% on October 30 after the chipmaker forecast weaker-than-expected business results, citing the closure of a factory in Israel and a continued slump in the PC market. Its forecast for the quarter of adjusted EPS of $0.25 and revenue of $15-16 billion compares with analyst expectations of $0.43 and $17.1 billion, according to LSEG. The U.S. government, which holds 10% of Intel, lost about $12 billion in value, while Nvidia, another major shareholder, lost about $6 billion. The stock had risen about 150% year to date, supported by demand for CPUs used in agentic AI. D.A. Davidson downgraded the stock from buy to neutral, saying the current valuation is hard to justify given the clear weakness.

Summary written by Upside AI from the original article. Read the source for full details.

Original headline: Một cổ phiếu vừa trải qua phiên lao dốc tồi tệ nhất 50 năm, Chính phủ Mỹ chịu "vạ lây" mất 12 tỷ USD

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IntelNvidiasemiconductorsearningsartificial intelligence

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