Intel shares plummet more than 20% following weak guidance blamed on PC market slowdown
Despite beating earnings expectations for the third quarter, Intel's stock plunged more than 22% in late trading. Investors reacted negatively to a weak forecast for the current quarter linked to softness in personal computer demand.
Key points
- Intel stock fell over 20% following weak guidance
- The decline is attributed to a slowdown in the PC market
- Third-quarter earnings beat expectations despite the forecast
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