Intel Set for Worst Trading Day on Record as AI Selloff Spreads
INTC has more than doubled off its 52-week low of $32.89.
Summary
Intel is indicated down more than 27% premarket, on track for its worst stock market day on record, after quarterly results and guidance rattled investors over supply-chain disruption and a forecast slowdown in PC demand. This follows Thursday's after-hours collapse, when shares fell 23% on Q4 guidance far below consensus with revenue of $16.5 billion. Amazon is down 6.5% premarket despite strong cloud growth, as heavier AI spending and slower advertising growth weighed on the print. The damage is market-wide: Nasdaq futures are off more than 2%, Korea's Kospi closed 3.5% lower, Japan's Nikkei fell 2.1%, and supplier ASML is down 4.6% in Europe. Risk-off flows pushed 10-year Treasury yields to just above 4.920% and sent Bitcoin below $78,000 after Binance disclosed a $6.3 billion heist, while Brent December crude rose 1.6% to about $117.70 a barrel on fears of renewed U.S. strikes on Iran.
At the time of this announcement, INTC was trading at $68.82 on NASDAQ in the Technology sector, with a market capitalization of approximately $486.7B. The 52-week trading range was $32.89 to $142.35. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.