Final numbers from today:

- INTC closed at $65.82, down $26.25 (-28.51%) from $92.07

- intraday low was $63.20, down more than 31%

- the all-time worst day is still July 5, 1974 (about -29.6%), so it missed the record by about a point

What caused it: Q3 actually beat (revenue $16.5B, EPS $0.52 vs ~$0.40 expected, data center +78%), but the Q4 guide was $15-16B revenue vs ~$17B expected and ~$0.25 EPS vs ~$0.43. PC chip revenue is expected to fall 20%+ from Q3 because memory prices are crushing PC demand, and the Fab 28 outage in Israel costs about $300M more.

Benzinga estimates chip stocks lost about $1 trillion today, and CNBC says the US government's Intel stake lost about $12B.

Full breakdown with the timeline and what it means for PC prices: https://holywizy.com/blog/intel-q3-2026-earnings-stock-falls-pc-slowdown-memory-shortage/

Buying the dip or staying away?