Intel's Weak Forecast Triggers Semiconductor Stock Rout, Fuels 'Black Monday' Fears

Intel Corp.'s stock price plunged 28.58% on October 30, marking its largest single-day drop in 52 years, following a weak fourth-quarter revenue forecast significantly below market expectations. This has sparked fears of a 'Black Monday' in the U.S. semiconductor market on November 2, with the Philadelphia Semiconductor Index falling 7.2%. The decline is attributed to rising PC prices due to memory shortages, which have reduced demand, and broader concerns about the mounting costs of the artificial intelligence boom and whether AI investments will generate sufficient returns.