Intel Shares Plunge After Weak Sales Guidance, Contributing to Broader Tech Sell-off

Intel (NASDAQ: INTC) stock experienced a significant decline, falling between 27% and 29% after the company issued weaker-than-expected sales guidance and a disappointing outlook for the fourth quarter. This contributed to a broader downturn in tech stocks, pushing the Nasdaq 100 index into a correction zone. Factors cited for the decline include weak PC demand, ongoing supply chain issues, and concerns regarding the profitability of investments in artificial intelligence.