Intel Shares Fall 28.02% as Next-Quarter Profit Guidance Roughly Halves
Intel shares fell 28.02% to $66.27. Its fourth-quarter outlook points to earnings shrinking faster than revenue.
Intel NASDAQ:INTC, the processor designer and chip manufacturer, faces a profit squeeze that booming server demand may struggle to fix. Shares sank 28.02% to $66.27 at 11.10am EST in October 30. The pressure point: its fourth-quarter outlook suggests earnings could shrink much faster than revenue.T…