Intel stock price plunges 17% after weak outlook, putting the chip turnaround back on trial
Intel shares plunged 17% to $45.07 in after-hours trading Friday after the company warned of supply constraints for server chips and issued a weaker-than-expected first-quarter outlook. The stock touched $44.45 at its low, with nearly 291 million shares traded. Intel forecast Q1 revenue of $11.7–$12.7 billion and adjusted EPS of zero. Investors now await the Fed’s Jan. 28 decision and next week’s tech earnings.