Intel stock plunges 20% after weak forecast and PC slowdown warning

Intel stock plunged over 20% in extended trading Thursday after the chipmaker issued a weak fourth-quarter forecast and warned the PC market slowdown could persist into 2027, overshadowing better-than-expected third-quarter earnings. Intel reported adjusted earnings of 52 cents per share on revenue of $16.51 billion, beating estimates, but PC revenue fell 5% to $8.1 billion while data center revenue surged 78%. The company forecast fourth-quarter earnings of 25 cents per share on revenue between $15 billion and $16 billion, far below analyst expectations. Intel faces rising capital expenditures, no positive cash flow in 2027, and a $600 million revenue hit from an explosion at its Israel facility. The Trump administration holds a 10% stake, with Nvidia and SoftBank also investing billions.