EL7.AI
StocksMediumUpdated×3•Originally published 1 November 2026•Updated 2 November 2026•
2 min read

Intel Plunges 28.6% as Warning Puts More Than $146 Billion at Stake

Key Facts

1Intel shares closed at $65.76 on October 30, after closing at $92.07 in the previous session.
2Third-quarter revenue was $16.5 billion, up 21% year over year.
3Intel expects fourth-quarter 2026 revenue of $15.0 billion to $16.0 billion.
4The chipmakers index fell 7.2% on October 30, taking its October decline to more than 15%.
5Intel had $46.32 billion in long-term debt, compared with $21.84 billion in cash and equivalents at the end of September.

Intel shares closed at $65.76 on October 30, 2026, down from $92.07 in the previous session, after plunging 28.6% in their worst daily performance since 1974. Reuters reported that the decline was set to wipe more than $146 billion off the company's market value after Intel forecast fourth-quarter revenue between $15 billion and $16 billion, which trailed market estimates by more than $1 billion. The guidance overshadowed a 169% surge in adjusted net income to $2.8 billion for the quarter ended September, alongside a non-GAAP gross margin of 44.1%.

Segment results highlighted diverging trends as Data Center and AI group revenue rose 78% to $7.3 billion, while Client Computing revenue fell 5% to $8.1 billion. Reuters reported that an explosion at Intel’s plant in Kiryat Gat lowered fourth-quarter revenue expectations by approximately $300 million and pressured the gross margin forecast by 200 basis points. CFO David Zinsner told the agency that the company expects a similar impact in the first quarter of 2027, at a time when long-term debt stood at $46.32 billion against $21.84 billion in cash and equivalents at the end of September 2026.

Intel expects fourth-quarter 2026 diluted earnings per share of $0.10 on a GAAP basis and $0.25 on a non-GAAP basis. The CFO anticipates the PC market slowdown will persist through at least the first half of 2027, while the company maintains its capital spending target of $20 billion for 2026.

Open on chart