Intel shares tumble after weak forecast and cash warning
Intel shares fell 29.9% to $64.54 on 30 Oct 2026 after the chipmaker warned it would burn cash this year and issued a weak fourth-quarter forecast. Intel expects fourth-quarter revenue of $15 billion to $16 billion, while third-quarter revenue rose 21% to $16.51 billion from $13.7 billion a year earlier. Intel says an October explosion at its Israel fab will cut about $600 million in revenue over two quarters. Shares of Nvidia, AMD, Broadcom, Micron, Qualcomm and Arm also fell in trading after hours and premarket.
Key facts
- Intel expects PC chip revenue to fall in the mid-20 per cent range in the fourth quarter.
- Intel expects PC chip sales to drop more than 20% sequentially in the current quarter.
- Intel had been on track to lose more than $123 billion in market value.
- The Israel fab explosion earlier in October killed two workers and seriously injured a third.
- Intel's stock had roughly doubled or more this year before the earnings report.
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Why it matters
A sharp drop in a major chipmaker's shares, with peers falling too, signals investor concern about the sector.
What changed
First published from CNA, CNBC and The Economic Times