Intel (INTC) shares plunged more than 20% in extended trading on Thursday, Oct. 29, after the chipmaker issued a disappointing fourth-quarter forecast and warned that a slowdown in the PC market could continue into 2027. The selloff came despite better-than-expected third-quarter earnings, as strong demand for data center processors helped offset weakness in Intel’s PC business. Investors were also concerned about the company’s spending plans. Intel expects capital expenditures to rise sharply next year and warned that it would not generate positive cash flow in 2027. Intel has spent years trying to catch up with rivals after falling behind in advanced chipmaking.
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