Intel's stock nosedived after markets opened on October 30 local time, with intraday losses at one point exceeding 30% and more than $137 billion in market value wiped out—potentially the largest single-day decline on record. The selloff was triggered primarily by the company's fourth-quarter guidance falling short of market expectations, along with warnings that headwinds such as weak PC demand and rising memory prices could persist through the first half of 2027. Intel's third-quarter 2026 revenue rose 21% year over year to $16.51 billion, but its fourth-quarter outlook came in far below analysts' estimates, and the company said it will not achieve positive cash flow this year. In addition, an explosion at its Israeli plant is expected to cost roughly $600 million in revenue over two quarters. The company has invested heavily in AI chips and manufacturing capacity, but remains constrained by production and supply chain limitations, making it difficult to fully meet demand from data center customers. The stock drop also weighed on several semiconductor peers, including AMD and Nvidia, reflecting investor concerns about near-term growth prospects for the sector and the chip industry at large.