Intel warning sparks chip rout as PC weakness clouds turnaround
Sofia Cheung is a dedicated community reporter with a focus on social issues affecting the Fargo area. A graduate of North Dakota State University, she has spent the last four years reporting for local networks, ensuring that underrepresented voices are heard.
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By Anhata Rooprai Oct 30 (Reuters) Intel s shares slumped 25% in premarket trading after the chipmaker forecast a bleak quarter and warned of persistent weakness in the personal computer market through at least the first half of 2027, sparking a selloff in global chip stocks. The decline puts the US chipmaker, which forecast fourth-quarter revenue and profit below Wall Street expectations, on track to lose more than $123 billion in market value and open at its lowest level in about six months if losses hold through the regular trading session. The forecast underscores the challenges facing CEO Lip-Bu Tan s turnaround effort, with Intel still grappling with a prolonged PC market slump even as it invests heavily in AI and manufacturing expansion. Semiconductor stocks, including Advanced Micro Devices, Arm Holdings, Qualcomm, Nvidia, Broadcom and Micron, fell between 2% and 9% in premarket trading. The STOXX Europe 600 Technology Index was down 2.1%, with sector heavyweight ASML