Nasdaq Tumbles To Nearly Three-Month Low As Intel Nosedives
Weak Intel guidance and Amazon’s AI spending fears sent chip and tech shares lower, with the Nasdaq and semiconductor funds taking the biggest hits.
- On Friday, October 30, 2026, Intel shares plummeted 28%, slashing the Commerce Department's 433-million-share stake by roughly $11 billion in a single session, marking the company's largest single-day decline on record.
- The selloff followed a poor fourth-quarter guidance report in which Intel forecast revenue between $15.0 billion and $16.0 billion, falling short of the roughly $17 billion expected, while adjusted earnings of $0.25 per share missed projections of $0.43.
- Chief Financial Officer Dave Zinsner warned the company will not see positive cash flow in 2027, compounding concerns over the foundry business, which posted a $1.85 billion third-quarter operating loss.
- Critics, including the American Enterprise Institute, labeled the strategy "venture socialism," warning it weakens companies and risks bailouts, while columnist Matthew Lynn said "Trump's investment in Intel is not looking quite so smart."
- Despite the massive paper loss, the government's stake remains worth about $19.66 billion more than the $8.9 billion original cost, though no sale of those shares has been disclosed to date.
54 Articles
54 Articles
US stock markets experienced sharp declines on the last trading day of the week amid growing concerns about the high cost of AI investments and disappointing financial results from technology companies. The Nasdaq index fell 3.37 percent, reaching its lowest level in three months.
Intel's Awful Day Highlights a Brutal Tech Selloff
Wall Street is handling Intel and the world of AI a productive reality check. The chipmaker's shares sank shortly 30% Friday—on track for their worst day since the mid-1970s—after it projected wearer learnings, reports CNBC. And Intel is not alone: The tech-centric Nasdaq was down 3%, with Amazon,...
Trump’s taxpayer-funded gamble just lost $10 billion in one day
In August 2025, President Donald Trump took the “unusual” step of making the U.S. government one of the largest shareholders in a major tech company by buying a 10 percent stake in Intel. While many questioned the move, with critics — including conservatives — noting that it was a blatantly “socialist” policy, Trump argued that he “should have asked for more.” On Friday, however, that claim was tested when the company’s stock cratered, slashing …
The US stock exchange recorded strong declines on Friday, the Nasdaq Composite index losing 2.3%, on the basis of the withdrawal of investors from the actions of technology companies and concerns about the costs of investment in artificial intelligence, CNBC transmits.
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