Intel plunges 27% intraday! If it can’t hold on to those gains by the close, it’ll be the biggest single-day drop since 1980
[What happened] (Intraday on Oct. 30 U.S. Eastern Time; figures as of 10:55 p.m. Beijing time)
- Intel was at $66.50, down “27.7%” from the previous close of $92.07; intraday low: $64.12
- Its previous biggest single-day drop was −26.1% on Aug. 2, 2024
- Philadelphia Semiconductor Index −6.3%, AMD −9.1%, Nvidia −3.2%; Nasdaq −2.1%, S&P 500 −1.3%
[Why it fell] (Oct. 29 earnings report and Oct. 30 quarterly results)
- The third quarter itself wasn’t bad: revenue of $16.5 billion, up 21% year over year and above the company’s own guidance
- “Fourth-quarter guidance”: revenue of $15–16 billion, below the third quarter; non-GAAP earnings per share of $0.25, versus $0.52 in the third quarter
- Slowing PC demand: the CFO said it would persist at least through the first half of next year
- An accident at the Kiryat Gat plant in Israel in mid-October caused employee casualties and halted production for about two weeks. In the fourth quarter, the company will have to write off inventory and account for idle-capacity costs
[How to read this]
It’s not last quarter that’s falling short—it’s the next one. The earnings-per-share guidance was cut in half, and the factory shutdown added to the pressure, prompting the market to reprice the stock. But the Nasdaq is down only 2.1%, so this is an Intel-specific problem, not a broad market meltdown.
Follow me for continued updates on U.S. stocks and crypto markets.
#英特尔 #U.S.Stocks
[What happened] (Intraday on Oct. 30 U.S. Eastern Time; figures as of 10:55 p.m. Beijing time)
- Intel was at $66.50, down “27.7%” from the previous close of $92.07; intraday low: $64.12
- Its previous biggest single-day drop was −26.1% on Aug. 2, 2024
- Philadelphia Semiconductor Index −6.3%, AMD −9.1%, Nvidia −3.2%; Nasdaq −2.1%, S&P 500 −1.3%
[Why it fell] (Oct. 29 earnings report and Oct. 30 quarterly results)
- The third quarter itself wasn’t bad: revenue of $16.5 billion, up 21% year over year and above the company’s own guidance
- “Fourth-quarter guidance”: revenue of $15–16 billion, below the third quarter; non-GAAP earnings per share of $0.25, versus $0.52 in the third quarter
- Slowing PC demand: the CFO said it would persist at least through the first half of next year
- An accident at the Kiryat Gat plant in Israel in mid-October caused employee casualties and halted production for about two weeks. In the fourth quarter, the company will have to write off inventory and account for idle-capacity costs
[How to read this]
It’s not last quarter that’s falling short—it’s the next one. The earnings-per-share guidance was cut in half, and the factory shutdown added to the pressure, prompting the market to reprice the stock. But the Nasdaq is down only 2.1%, so this is an Intel-specific problem, not a broad market meltdown.
Follow me for continued updates on U.S. stocks and crypto markets.
#英特尔 #U.S.Stocks
