Intel shares fall around 28% after weaker fourth-quarter outlook

Image: Primary

Published Friday, October 30, 2026 · 9:07 PM EDT

Intel shares fell around 28% on Friday after the company forecast fourth-quarter revenue of $15 billion to $16 billion, below analysts' expectations of around $17 billion. TechCrunch reported that the decline cut the value of the government's Intel stake by $12 billion. Intel also forecast a gross profit margin of 37%, down from 43%, and no positive cash flow amid heavy investment. CEO Lip-Bu Tan said higher memory prices and limited availability were pushing up PC prices and pressuring customers' IT budgets. Data center revenue grew 78% from the year-earlier quarter, but additional factory capacity remains a constraint. Intel's next Arizona fab is not expected online until 2028.

Sources

TechCrunch

In this story

Intel

Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.

Back to Newswire

Keep reading

Full wire

AI Infrastructure

Five technology giants commit more than $3T to future spending

Alphabet, Meta, Microsoft, Amazon and Oracle have committed more than $3T to future spending on data centres, leases, equipment and energy, The Next Web reported, citing Bloomberg. Alphabet accounts for more than $1T and Meta for more than $800B.

Infrastructure Products

AI infrastructure spending pushes three technology giants into negative cash flow

Alphabet, Amazon and Meta reported negative free cash flow as infrastructure spending rose, TechCrunch reported. Alphabet recorded negative $9.1 billion in the third quarter, Meta negative $2.1 billion, and Amazon negative $42.4 billion over the past 12 months.

Infrastructure Products

AWS lets more Oracle database customers disable automatic minor upgrades

AWS now lets Amazon RDS for Oracle customers disable automatic minor version upgrades on new and existing database instances using the JVM, Spatial, Locator or OLAP options.

Infrastructure Products

Amazon Connect adds flow versions and aliases for coordinated rollouts

AWS says Amazon Connect Customer now supports immutable versions and aliases for customer experience flows and flow modules. Customers can attach friendly names to versions and point queues, quick connects and phone numbers at those names.

Products

Semiconductor selloff wipes out approximately $1 trillion in intraday value

Semiconductor stocks lost approximately $1 trillion in market capitalization on Friday, according to intraday Benzinga estimates cited by Tom's Hardware, as Intel's weak outlook triggered a broader selloff.

Products

Intel shares fall as much as 30% after weak outlook and spending increase

Intel shares fell by as much as 30% on Friday after the chipmaker forecast lower-than-expected fourth-quarter revenue and said it would increase AI spending despite weaker computer demand, the BBC reported. The Nasdaq fell over 3.5% as several technology stocks declined.