Intel Stock Plunges 30% on Weak Q4 Outlook as Memory Prices Hit PC Sales

Intel reported third-quarter 2026 earnings per share of $0.60, beating analyst expectations of $0.406, while revenue of $16.5 billion slightly missed forecasts. The company's stock plunged nearly 30 percent to $64.80 following a disappointing fourth-quarter outlook. Intel's weak guidance stems from rising memory prices reducing PC sales and supply chain issues for data center chips amid high demand. The company forecasts fourth-quarter revenue between $15 and $16 billion, well below the $17 billion analysts expected, with adjusted earnings per share of $0.25 versus the $0.43 consensus. The memory price surge, driven by AI data center demand, is expected to persist through 2027, with Intel projecting a 10 percent PC market contraction next year. Intel plans to invest $20 billion in new facilities this year, increasing significantly in 2027, though it expects no free cash flow during that period.