Intel posts worst stock day since 1970s amid PC slump
Business
Intel just had its worst day on the stock market since the 1970s, with shares dropping 45% in October 2026.
The main culprit? Fewer people buying PCs, which still accounts for roughly half of Intel's revenue.
To make things tougher, Intel warned it could fall up to $2 billion short in revenue this quarter because of pricier components.
Intel needs new foundry customers
To deal with supply issues, Intel is now focusing its Oregon factory on older chip tech needed for data centers instead of its latest 18A chips.
While earlier investments from the US government and NVIDIA gave Intel a boost, getting new customers for its foundry business is now more important than ever if it wants to keep growing and stay ahead.