Intel (INTC) fell 28.6% on Friday, 30 October 2026, while the S&P 500 lost 1.8%, after the company reported third-quarter results and a fourth-quarter forecast of $15 billion to $16 billion in revenue, below its third-quarter level. Third-quarter revenue rose 20.9% to $16.50 billion, matching the $16.56 billion consensus, and adjusted earnings of $0.52 per share beat estimates of $0.39. The guidance includes a hit of roughly $300 million to revenue from an accident at its Israel factory, and news reports linked the decline to doubts about the turnaround, difficulty producing enough AI server chips, a weak PC market and surging memory prices. All five peers also fell, including Qualcomm at 11.1% and AMD at 10.9%, but Intel dropped more than twice as far as any of them. The shares closed at $65.76, less than half the 52-week closing high of $140.94 reached on June 22, 2026, and Intel is expected to report fourth-quarter results in January 2027.
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