Intel shares fell as much as 10% on Monday, extending a post earnings selloff that has cut the chipmaker’s value in half over the past month and erased $440 billion in market capitalization from its June 30 record high. The stock tumbled to around $61.80, down 57% from its peak 86 trading days earlier, though it remains up 58% for the year.
The Monday slide followed a 28.6% drop on Friday to $65.76, Intel’s steepest single day decline since July 5, 1974. Friday’s selloff wiped out roughly $139 billion in total market value and trimmed the US government’s 433.3 million share stake by $11.4 billion to $28.5 billion, though the government remains up $19.6 billion on its $8.9 billion purchase in August 2025. The rout also dragged down broader semiconductor shares on Friday, sending AMD down 10.9% and a chip index down 7.2%, its worst session since June.
Investors have dumped the stock since Thursday’s fourth quarter forecast of $15 billion to $16 billion in revenue and $0.25 in adjusted earnings per share missed consensus estimates of $17.1 billion and $0.43. While third quarter data center and AI revenue jumped 78% year over year to $7.3 billion, Intel projected its client computing revenue to drop more than 20% sequentially in the fourth quarter as higher memory prices weigh on PC demand, alongside packaging substrate shortages and a two week shutdown at its Fab 28 plant in Israel that will reduce quarterly revenue by about $300 million.
