[FLASH] Intel falls 28.6% on weak Q4 guide; chip index sheds 7.2% as Nasdaq posts its biggest drop since June 5
Intel closed down about 28.6% on Oct 30. Its Q4 guidance of $15B-$16B in revenue and $0.25 adjusted EPS came in below consensus of roughly $17B and $0.43, even though Q3 beat. Intel also guided for the PC market to shrink about 12% in 2026 and about 10% in 2027, blaming high memory prices. Reuters reported AMD down 10.9%, Nvidia down 4.2%, Dell down 10.8% and HP down 9.6%, with the broader chips index down 7.2% and more than 15% lower for the month. The Nasdaq fell 2.86%, its steepest drop since June 5. CNBC described the week as investors seeking evidence that AI returns justify capex. What to watch: whether the selling spreads further into AI infrastructure names, and how Intel's server supply constraints evolve.