Intel stock plunges 16% on weak outlook, weighing on Dow and S&P 500
Intel shares plunged 15.7% to $45.79 Friday after the company warned supply chain issues would hit near-term results, despite beating fourth-quarter expectations. The drop erased over $35 billion in market value and pressured broader U.S. markets at the open. Intel forecast first-quarter revenue of $11.7–$12.7 billion, with supply expected to bottom out before improving later in the year.