Intel stock plunges 25% as weak forecast hits shares

Intel's stock plunged over 25% in premarket trading to $68.29 after the chipmaker's quarterly forecast badly missed expectations, threatening its lowest level since April. Intel cited weakening PC sales due to surging memory chip prices and supply chain issues for data center chips amid high demand. The company forecast Q4 revenue of $15-16 billion versus analyst expectations of $17 billion, and adjusted earnings per share of 25 cents against a 43-cent consensus. CEO Lip-Bu Tan acknowledged Intel couldn't meet AI-driven demand, citing raw material shortages and a temporary Israeli factory closure. Intel plans $20 billion in capital investments this year, with 2027 designated an "investment year" as it boosts production capacity.