Intel Shares Fall 23% After Issuing Weaker Fourth-Quarter Guidance

Intel shares fell 23% after the chipmaker issued weaker fourth-quarter guidance, putting its near-term outlook in focus despite a stronger-than-expected third quarter for revenue and adjusted earnings.

Intel posted $16.51 billion in revenue for the quarter ended Sept. 30, up 21% from a year earlier. Adjusted earnings were 52 cents per share. Both figures exceeded expectations of $16.44 billion in revenue and 39 cents per share.

For the fourth quarter, Intel projects revenue of $15 billion to $16 billion and adjusted earnings of 25 cents per share. The sales range is below the prior quarter’s total, while the earnings forecast is less than half of the third-quarter result.

Intel CEO 陈立武 said the PC market slowdown is expected to continue through at least the first half of 2027, citing higher memory prices, supply constraints and limited IT budgets. He also described server CPU demand connected to AI infrastructure as strong. Quarterly revenue growth at Intel’s data-center business was its strongest in 15 years.