Intel Stock Plunges 20% on Weak Forecast as High Memory Prices Hit PC Sales

Intel's stock plunged over 20% in after-hours trading after the chipmaker issued a disappointing forecast, citing high memory prices that are reducing PC sales and supply chain issues in data center chips. Intel projected fourth-quarter revenue of $15-16 billion, below analyst expectations of $17 billion, and adjusted earnings of 25 cents per share versus the expected 43 cents. CFO David Zinsner said weakness would persist through at least the first half of 2027. Memory prices have surged due to AI data center demand, shrinking the PC market by 12% this year and an expected 10% in 2027. Intel's quarterly revenue rose 21% to $16.5 billion, but profit fell 18% to $3.3 billion.