# Intel Shares Plunge 29% After Weak Q4 Outlook

October 31, 2026 at 10:29 AM

> Intel stock dropped to $65.76 as disappointing revenue forecasts and a projected PC market contraction overshadowed strong AI segment growth.

**Intel** shares plummeted roughly 29% on Friday to $65.76, down from Thursday's $92.07 close. Despite reporting third-quarter revenue of $16.5 billion—a 21% year-over-year increase—and adjusted EPS of $0.52, the company's outlook fell short of analyst expectations.

The Data Center and AI segment grew 78% to $7.3 billion, but Client Computing Group revenue fell 5% to $8.1 billion. Intel projects fourth-quarter revenue between $15 billion and $16 billion, missing the $17 billion consensus, with margins dropping to 38%.

A plant shutdown in **Israel** and a projected 12% PC market contraction in 2026 weigh on the firm. CFO **David Zinsner** expects the PC slowdown to persist through mid-2027, while CEO **Lip-Bu Tan** aims to prioritize increasing the supply of **Xeon** chips to offset losses.


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