Intel shares plunge 23% as net income falls
The company warned of a prolonged downturn in the semiconductor market through mid-2027
Shares of US chip and computer component maker Intel plunged 23% in after-hours trading. The sell-off was triggered by a weak quarterly report and the corporation’s pessimistic outlook.
Intel’s net income in the third quarter of 2026 fell to $3.3 billion from $4.1 billion in the same period last year. At the same time, the company’s revenue grew 21% to $16.51 billion.
The market reacted negatively to the estimates of Intel’s management, which expects growth in global computer and microchip production to slow at least through the first half of 2027.
The corporation forecasts fourth-quarter 2026 revenue in the range of $15–16 billion. Wall Street analysts had factored in $17 billion, which triggered a wave of panic selling on the stock market.
