Intel shares fell 20% in extended trading after the chipmaker issued quarterly forecasts below expectations. In the third quarter, adjusted earnings per share came in at 52 cents versus 40 cents expected, while revenue reached $16.51 billion compared with $16.5 billion expected. The global PC slowdown weighed on client computing, although data center and AI revenue rose 78% to $7.3 billion. For the current quarter, Intel forecasts adjusted earnings per share of 25 cents and revenue of $15 billion to $16 billion, versus analyst estimates of $17.1 billion and 43 cents. The stock had nevertheless risen about 150% year to date before retreating amid concerns about the scale of AI investment.
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