Intel Stock Plunges On Outlook

It's Benzinga, bringing Wall Street to Main Street. Intel shares plunged more than 20% in after-hours trading Thursday after the chipmaker issued a weak fourth-quarter forecast amid continued weakness in the global PC market, according to CNBC. Adjusted earnings came in at $0.52 per share, topping expectations of $0.40, while revenue of $16.51 billion narrowly exceeded estimates of $16.5 billion. Revenue rose 21% from $13.7 billion a year earlier. Intel's client computing and physical AI revenue fell 5% to $8.1 billion, missing estimates, while data center and AI revenue surged 78% to $7.3 billion. The semiconductor company forecast adjusted earnings of $0.25 per share on revenue of $15 billion to $16 billion for the current quarter, below analysts' expectations of $0.43 per share and $17.1 billion in revenue. The company also expects $600 million in lost revenue over two quarters following an explosion at its Israel chip plant. For all things money, visit Benzinga.com.