Intel Shares Plunge 30% Below $65 as Weak Q4 Revenue Forecast Dents 250% Rally

Intel (INTC) shares tumbled roughly 30% to below $65, hitting levels unseen since the spring and ranking as the S&P 500's worst performers, after the chipmaker's fourth-quarter outlook disappointed investors. The company guided to Q4 revenue of $15 billion to $16 billion and GAAP profit of 10 cents per share, both below Visible Alpha consensus estimates. GAAP profit fell year-over-year. CEO Lip-Bu Tan acknowledged challenges meeting "extremely high AI driven demand" and cited "headwinds across the PC industry." The selloff follows a rally of about 250% this year through the prior close, leaving the stock trading at more than 50 times estimated 2027 earnings—well above its peer average. Foundry revenue rose nearly 60% year-over-year in Q3 but posted an operating loss of nearly $1.9 billion. Morgan Stanley, with a neutral rating, cut its price target to $75 from $84, noting how expensive the stock is on next-year numbers.