Intel shares slide on weak forecast and PC market warning

Intel shares fell sharply on Friday after the chipmaker’s fourth-quarter forecast missed analyst expectations and executives warned that weakness in the personal computer market could persist into 2027. The decline followed a third quarter in which Intel reported higher revenue and strong growth in its data-center and artificial-intelligence business. Intel forecast fourth-quarter revenue of $15 billion to $16 billion, compared with analyst expectations of about $17 billion. Its adjusted earnings guidance was 25 cents a share, below the 43-cent consensus. The company also projected its gross margin would narrow to 38% from 43% in the third quarter. Shares were down by roughly 25% to nearly 30% at various points in Friday trading. Those figures reflect intraday market observations, not a confirmed closing loss. Intel had closed Thursday at $92.07. The company’s third-quarter revenue rose 21% from a year earlier to $16.5 billion, while adjusted earnings were 52 cents a share. Data Center and AI revenue increased 78% to $7.3 billion. Client Computing revenue, tied largely to PC processors, fell 5% to $8.1 billion. Intel said it expects the PC market to contract about 12% in 2026...