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MAJORChinese Media2026-10-30 14:00

Intel shares plunge over 30% at the open, biggest single-day drop since 2024

Intel shares fell more than 30% after the open, wiping out over $137 billion in market value, after fourth-quarter guidance came in below expectations. Reuters attributed the sell-off to weak guidance, soft PC demand and rising memory prices that could last into the first half of 2027, plus a roughly $600 million revenue hit from an explosion at its Israel plant. Why it matters: the rout spilled over to other chip stocks, showing how quickly sentiment can reverse when the PC recovery stalls.

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