Intel shares crash about 28% after weak Q4 outlook, cutting government stake by $12B
FROM THE WIRE · FINANCE.YAHOO.COM
Intel's stock suffered one of its worst days ever on Friday, crashing around 28% after the chip giant reported a weaker-than-expected outlook for the fourth quarter. This route reduced the value of Intel's holdings by the government by $12 billion, CNBC reports. The Trump…
Read at the source ↗MARKET IMPACTHIGH✦ News Impact agent estimateTone: expected bearishA 28% drop in a major chipmaker weighs on the semiconductor sector and on government and Nvidia stakes.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Intel stock fell around 28% on Friday after a weaker-than-expected fourth-quarter outlook.
- 02The drop reduced the value of the government's Intel holdings by $12 billion, according to CNBC.
- 03Nvidia's stock also dropped a bit, and chipmakers were caught in the selloff.
- 04Intel is still up more than 70% for the year despite the decline.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
Intel Corp.65.76 USDMarket closedtoday -28.58%Negative NVIDIA Corporation204.64 USDMarket closedtoday -4.22%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets