Intel stock plunges 20% as chipmaker blames PC slowdown for weak guidance
Intel shares plunged over 20% in extended trading after the chipmaker issued a weaker-than-expected fourth-quarter forecast, driven by a continuing slowdown in the global PC market and an explosion at an Israeli fab. Despite strong growth in data center and AI revenue, the company's client computing and physical AI group revenue fell 5% from the previous year. Finance chief David Zinsner stated that the PC slowdown is expected to persist through at least the first half of next year. Open article →
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