Intel Shares Plummet After Forecasting Lower-Than-Expected Revenue

Intel's stock fell sharply by 20.91% in after-hours trading by 6:20 p.m. ET (22:20 UTC) on Thursday, October 29, 2026. This decline followed the chipmaker's forecast of lower-than-anticipated revenue for the current quarter, ranging between $15 billion and $16 billion against Wall Street's expectation of $17 billion. The company also warned that its gross margins would fall to 37%, worse than expected, due to higher costs from an industry-wide memory chip shortage.