Intel Stock Falls Over 30% at Its Low, Through the Worst…
By Tobi Opeyemi Amure
AI summary of the source article
Intel stock dropped as much as 30.22% intraday to $64.25 following weaker-than-expected fourth-quarter revenue guidance and a warning from CFO David Zinsner that 2027 is unlikely to produce positive free cash flow.
Why it matters
Dow Jones Newswires reported the result triggered "a broad semiconductor selloff that carried into the S&P 500 on October’s last session".
Key facts
- Intel stock fell to an intraday low of $64.25 from Thursday's $92.07 close, erasing about $136 billion to $147 billion in market value.
- Third-quarter revenue reached $16.51 billion, but fourth-quarter revenue was guided to between $15.0 billion and $16.0 billion against approximately $17 billion expected.
- CFO David Zinsner stated that 2027 is unlikely to generate positive free cash flow, with gross capital expenditure remaining at $20 billion this year and rising sharply next year.
Source excerpt · FinanceFeeds
Intel stock fell to $64.25 at 13:55 UTC on Friday, down 30.22% from Thursday’s $92.07 close. That is 29 cents below $64.54, the level that matches the 29.9% fall of 5 July 1974, which Yahoo Finance data reported as the worst single day in the company’s listed history. The shares have since recovered to $66.34, a fall of 27.95%, which according to the same TradingView INTC data puts that 55-year ma…