Intel shares fell 29% on October 30, 2026, a day after the company guided fourth-quarter revenue to $15 billion to $16 billion, below the $17.29 billion analysts had expected. The article attributes the weakness mainly to the PC chip business, where memory shortages and limited IT budgets are cutting PC purchases and prompting PC makers to trim inventories; management expects industry PC unit sales to fall about 12% in 2026 and roughly 10% in 2027. Client computing, Intel's largest business, fell 9% from the prior quarter to $8.1 billion in fiscal third-quarter 2026, and management expects it to drop more than 20% in the fourth quarter, while data center revenue grew nearly 80% from a year earlier. Management said it is 'not optimistic about next year in terms of memory' and will see in 2028 whether conditions improve, though it called 2027 a growth year for Intel. The article suggests watching client computing revenue in the fourth-quarter results expected in January 2027.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
Intelsemiconductorsearningsmemory chips
Open a keyword to see other news on the same topic.
Related news
- Sandisk Sinks 14%, Micron Down 10% as a Top Phone Chipmaker Blames Weak Sales on “Industry-Wide Memory Dynamics”
Sandisk (SNDK) fell 14%, Micron (MU) 10% and Seagate (STX) 12% after Qualcomm (QCOM), a top phone chipmaker, reported handset chip revenue down 26% to $5.14 billion in the quarter to Sept. 27, citing industry-wide memory dynamics. Sandisk's own Edge revenue, from phones, PCs and cars, rose 320% year over year despite 20% fewer exabytes shipped, as price drove results. Analysts still expect Sandisk's normalized EPS to more than triple to $227.80 in fiscal 2027, with multiyear contracts supporting a gross margin of about 80%. The shares trade at 4.4x forward earnings, the lowest in a year and below the 10.8x average, and the author says the selloff has run ahead of the damage.
- SK hynix Sinks 9% as Qualcomm’s 26% Handset Plunge Deepens Memory Chip Rout
SK hynix (SKHY) fell 9% after Qualcomm (QCOM) reported handset chip sales down 26% to $5.14 billion in the quarter ended Sept. 27. Qualcomm said chip costs, memory included, are rising and it is raising its own prices to match, and it expects a flat handset market in 2027. Higher memory prices lifted SK hynix's gross margin from 57.4% in the quarter to September 2025 to 85.7% a year later, mainly on conventional DRAM used in phones and PCs. Apple reported a record September-quarter iPhone result, but its inventories more than doubled to $14.5 billion, which the author reads as stocking up before memory prices rose further. SK hynix trades at 2.9x forward earnings, and contracts with 14 customers cover over half of its planned 2027-2028 capacity, though most prices are still set monthly or quarterly.
- Prediction: Micron’s Next Earnings Cycle Could Reset Expectations for the Stock
The 24/7 Wall St. price target for Micron (MU) is $987.56, implying 12.54% upside from Friday's close of $877.55. Micron has beaten earnings estimates for 8 straight quarters, yet the stock is down 15% over the past month and up 219.41% year to date. The company says more than 75% of its fiscal 2027 shipments are already committed, and guides to fiscal first-quarter revenue of $61.5B ±$1.5B and non-GAAP EPS of $38.15 ±$1.00. The article gives a bull case of $1,348.03 and a bear case of $743.23, citing $30.71B in fiscal 2026 capex and historically severe memory downturns as risks. The report date is tentatively December 15 and has not yet been confirmed by Micron.
- Micron Just Closed Below $800 for the First Time Since July
Micron (MU) closed at $795.23, down $59.87 or 7.00% from the prior $855.10 close, while the S&P 500 rose 1.58% and the stock's market value was about $899.74 billion. The shares fell about 19.1% over five sessions and closed roughly 34.5% below the June 25 record close of $1,213.56. Micron has not commented, but investors are digesting the Democratic midterm wins, Kioxia's conservative December-quarter forecast, and Apple's CEO calling memory pricing “unprecedented,” while storage peers Seagate, SanDisk and Western Digital also fell. Fiscal fourth-quarter revenue rose 379.3% to $54.23 billion, and over 75% of fiscal 2027 shipments are committed under agreements running through 2030. The article argues the main risk is demand destruction if device makers cut memory content, which could push renewals lower.
- AI Has Made Flash Memory 5 Times More Expensive, and Apple Can’t Bully Its Memory Suppliers Anymore
According to The Wall Street Journal, the flash memory cost of the storage upgrade on an iPhone 17 Pro from its 256GB base rose from $15 to $66, as AI hyperscaler demand quintupled flash prices. The four biggest cloud buyers now purchase more than double Apple's NAND volume, and three of them have signed long-term contracts that guarantee suppliers high prices even if the market falls. TechInsights estimates Apple will spend about $25 billion on NAND this year, up from about $6 billion in 2025. Storage upgrades were once Apple's richest margin, at about 85%, but that cost gap is now narrowing. Apple reports fiscal fourth-quarter results on November 2 and has not disclosed its supplier contract terms.
- A Memory Shortage Until 2030? Why Semiconductor Stocks Are Rallying Again
Micron and SanDisk shares jumped after SK Hynix forecast a memory shortage lasting until 2030.
Related markets
Latest news
- Stock Market Today: Nasdaq Craters 3% As Chips Sell Off; Arm Misses Key Metric (Live Coverage)
The Dow Jones index rose on Thursday following a postelection rally. Shares of Cava and Dutch Bros plunged on their earnings.
- Amazon and Google Could Outperform Nvidia as AI Trade Enters New Phase, Says Joseph Carlson
YouTube investor Joseph Carlson argues that Amazon (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL) could outperform Nvidia (NASDAQ:NVDA) as AI investors move from companies selling hardware to those turning it into revenue. His view comes a day after Democrats swept Congress, and data-center critics also notched key wins.
- Fewer Families Own Stocks Directly, 19.0% in 2025, but Their Typical Holding Jumped 83% to $30,000
The Federal Reserve's newest Survey of Consumer Finances shows the share of families directly holding individual stocks fell from 21.0% in 2022 to 19.0% in 2025. Among families that still held shares, the median holding rose 83%, from $16,400 to $30,000 in 2025 dollars, while the mean was $524,300 because a few large portfolios pull it up. The article cites rising stock prices and a possible factor that families leaving the market tended to have smaller accounts, alongside heavy concentration: the top 1% by wealth held 50.9% of household corporate equities and mutual funds in Q2 2026, versus 0.6% for the bottom 50%. For retirees holding individual stocks, the article flags concentrated positions, underestimated overall stock exposure, and capital gains taxes that can keep concentrated holdings in place longer than planned.
- Deputy PM: No mandatory requirement for people and businesses to switch to pure electric vehicles
The Government Office issued Dispatch No. 11281/VPCP-CN dated 5/11/2026 to the Ministry of Construction, conveying Deputy Prime Minister Phạm Gia Túc's directives on refining the Strategy for Transport Services Development to 2035, with a vision to 2050, and the Action Programme on green energy transition and greenhouse gas emission reduction in transport. The Ministry of Construction is tasked with leading the work, incorporating General Secretary and State President Tô Lâm's guidance on national logistics, and reporting to the Prime Minister before 15/11/2026. The Deputy PM stressed there will be no mandatory requirement or compulsory timetable for vehicle owners, people and businesses to switch to pure electric or other green vehicles, particularly road motor vehicles. Instead, measures will encourage a voluntary transition suited to economic and social conditions and transport infrastructure.
- Elon Musk faces a new $28.5 trillion problem after Texas upset
Shares of Space Exploration Technologies (SPCX) fell 5.5% and Tesla dropped 5.1% after Democrats won the U.S. midterm elections, raising concerns about regulatory scrutiny and possible delays to expansion of AI infrastructure. In Texas, where Musk has major operations, Gina Hinojosa defeated Republican Gov. Greg Abbott and has proposed suspending new data-center projects until stronger protections on electricity costs, water use and community concerns are in place, a move particularly relevant to SpaceX's plan to raise AI computing capacity from 1.7 gigawatts at the end of September to as much as 3 gigawatts by year-end and 13 gigawatts in 2027. Musk spent nearly $500 million supporting Republican candidates and political groups, and Democratic lawmakers may examine his government contracts and his earlier role in the Department of Government Efficiency. No statewide data-center moratorium has been enacted yet, and the financial impact remains uncertain.
- Arm Stock Plunges -- Smartphone Business Delivers a Major Disappointment
Arm Holdings (ARM) reported fiscal second-quarter adjusted earnings of 52 cents per share and revenue of $1.44 billion, beating analyst estimates of 48 cents and $1.38 billion, with data center royalties doubling from a year earlier. However, royalty revenue rose only 8% to $670 million, below the $705 million analysts expected. Arm attributed the slower growth to limited memory availability and higher prices, which have weighed on smartphone production at Apple and Android partners. Qualcomm (QCOM) has also flagged challenges involving Android and Apple modem-related revenue. Shares fell 7% early Thursday to trade near $177.20, as investors weigh a valuation of more than 196 times earnings.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.