By David Moadel
Publication Date: 2026-10-30 13:09:00
Intel’s earnings beat meant nothing once Wall Street saw what the company expects next, and the fallout is dragging down chipmakers and PC giants alike as a memory crunch reshapes the entire sector’s near-term outlook.
A quarterly earnings beat ran into a much weaker outlook. The selloff is erasing a chunk of this year’s rally at Intel (NASDAQ:INTC | INTC Price Prediction). Shares are at $68.85, down 25%, in premarket trading. The iShares Semiconductor ETF (NASDAQ:SOXX), a fund concentrated in chip stocks, is at $479.97, down 7%. That’s a much steeper slide than the broader Invesco QQQ Trust (NASDAQ:QQQ), which is at $697.49, down 2%.
The company reported after the market closed on October 29, and the stock had finished the regular session at $92.07. Wall Street analysts expected adjusted earnings per share (EPS) of $0.41 for Q3 2026, and Intel delivered $0.52. Quarterly revenue at Intel reached $16.5 billion, in line with estimates and up 21% year over year.
Intel’s Q4 Guidance Misses on Every Key Line
Intel disclosed on October 29 that it expects Q4 2026 revenue of $15 billion to $16 billion, below the $17 billion Wall Street analysts expected. For adjusted EPS, Intel’s guidance of $0.25 sits well under the $0.43 Wall Street analysts projected. On margins, Intel expects a Q4 gross margin of 38%, down from the 43% it…
