Update
Intel Shares Plunge Due to Weak Fourth-Quarter Forecast
Intel's shares dropped nearly 30% to $65.76 on Friday, marking the worst single-day decline in more than 50 years. Despite strong third-quarter earnings, Intel's fourth-quarter forecast fell short of Wall Street expectations, leading to a significant market value loss of over $146 billion. The company's Data Center and AI division performed well, generating $7.3 billion in revenue, but traditional PC business is struggling, causing Intel to issue a pessimistic outlook for the upcoming quarter.