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Intel stock plunges 21% as chipmaker blames PC slowdown for weak guidance
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Intel shares fell more than 20% after the chipmaker issued weak sales guidance, which it attributed to a slowdown in the personal computer market. CNBC reported a 21% drop, while The Information, WSJ, and Bloomberg noted declines exceeding 20%. The New York Times highlighted that artificial intelligence is hindering some parts of Intel's business. The company's outlook was hurt by weak demand for personal computer chips, according to Bloomberg. The steep stock decline reflects investor concerns over Intel's near-term performance amid a challenging PC market.
Source report
Intel's stock fell sharply after the chipmaker issued weak guidance, with the company blaming a slowdown in the PC market for its disappointing outlook.
Key Coverage
- CNBC: Intel stock plunges 21% as chipmaker blames PC slowdown for weak guidance
- The Information: Intel Shares Drop More Than 20% After Weak Sales Forecast
- The Wall Street Journal: Intel Shares Plunge More Than 20% on Weak PC-Market Outlook
- The New York Times: Intel's Shares Plunge 20% as A.I. Hinders Some Parts of Its Business
- Bloomberg: Intel Outlook Hurt by Weak Market for Personal Computer Chips
Summary
Intel shares dropped more than 20% following the company's weak sales forecast. The chipmaker attributed the disappointing guidance to a slowdown in the personal computer market. Coverage from The New York Times also noted that artificial intelligence is hindering some parts of Intel's business.
Source
Top stories - Google NewsWestern
Part of this Story
Intel shares plunge nearly 30% after weak PC outlook triggers global chip selloff