Intel Stock Suffers Its Worst Day Since 1974 After Grim Q4 Outlook
Intel Corporation (INTC) sent shockwaves through Wall Street on October 30, 2026, as its shares plummeted nearly 29%—the chipmaker’s worst single-day performance since July 1974. The collapse wiped out approximately $140 billion in market value and triggered a broad tech-sector selloff, sending the Nasdaq 100 to its worst session since June.
The rout was sparked by a deeply disappointing fourth-quarter revenue forecast. Intel guided Q4 revenue to $15.0 billion to $16.0 billion, well below Wall Street’s consensus estimate of $17.07 billion. The company also projected adjusted earnings per share of just $0.25, down from $0.52 in Q3.
Despite strong Q3 results—including a 78% year-over-year increase in Data Center and AI revenue to $7.3 billion and total revenue of $16.5 billion, up 21% year over year—Intel faces several challenges. CEO Lip-Bu Tan cited a slumping PC market, rising memory prices, and an accident at the company’s Israel plant, which is expected to cost roughly $300 million in Q4 revenue.
Dell, HP, AMD, and Micron also fell in sympathy. The crash is a significant blow to the U.S. government, which holds an approximately 10% stake in Intel; the value of that holding fell by roughly $12 billion in a single session.
Source: Yahoo Finance – Intel stock plunges nearly 29%, its worst day since 1974