Intel plunges 29% on Friday, the stock's worst day since the 1970s, amid the memory crunch caused by AI

High Oct. 30, 2026 · CNBC

Published in edition no. 2 of Noticiário do Joãozinho · Saturday, October 31, 2026, evening edition

Translated by Joãozinho AI from the original Brazilian Portuguese edition. Facts, numbers and sources are the same as in the original; quotes, video titles and source names stay in their original language. Read the original in Portuguese

Intel forecast fourth-quarter revenue of US$15 billion to US$16 billion and adjusted earnings of 25 cents per share, versus US$17.1 billion and 43 cents expected by the market. The company blamed weak PCs, squeezed by the price of memory that AI data centers are buying in bulk, and the closure of a plant in Israel. CFO David Zinsner said the PC slowdown should last at least through the first half of 2027.

Why it matters It is the side effect of the AI boom: the race for memory makes PCs and phones more expensive and hurts those who depend on consumers. The drop added to Alphabet's and deepened the week's tech stock sell-off.

Original source: CNBC — https://www.cnbc.com/2026/10/30/amazon-intel-earnings-big-tech-ai-spending-concerns.html

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