Intel's weak guidance triggers analyst downgrades and 25% stock drop

Intel issued weaker-than-expected fourth-quarter guidance due to a global PC sales slowdown, causing shares to fall roughly 25% on Friday and prompting several analysts to lower their price targets. The company forecast adjusted earnings of 25 cents per share on $15-$16 billion in revenue, below LSEG estimates of 43 cents and $17 billion. Bank of America downgraded the stock to neutral, citing a sharp PC shipment drop and limited external foundry traction. Analysts from UBS, Goldman Sachs, Bernstein, Wells Fargo, and Barclays cut targets to between $75 and $100, citing a challenging PC recovery and supply constraints, despite strong data center demand and progress on advanced packaging.