Intel shares plunge 23% after weak PC outlook and Israel plant blast

Briefing by News4U · First published 2026-10-30 22:41:03 UTC

Intel posted third-quarter revenue of $16.51 billion, up 21%, but shares plunged 23% after hours after the company forecast fourth-quarter revenue of $15-16 billion, below estimates, and warned of cash burn this year amid PC chip weakness and supply constraints. Intel expects PC chip revenue to fall in the mid-20% range and said the October explosion at its Kiryat Gat, Israel plant will erase roughly $600 million in revenue over two quarters and cut AI server chip supplies. Finance chief David Zinsner said the firm will not have positive cash flow this year while spending $20 billion on capacity expansion. [1] [2]

Sources

1. Intel shares fall 22% as weak sales outlook dents turnaround

   Financial Times · 2026-10-29 23:45:30 UTC · Summary only

2. Intel shares tumble after hours, hit by chip supply woes

   RTÉ Business · 2026-10-30 07:15:24 UTC · Full text

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