What happened? Shares of computer processor maker Intel (NASDAQ:INTC) fell 28.9% in the morning session after the company issued a downbeat fourth-quarter profit outlook and warned of persistent weakness in the personal computer market. According to a company press release, Intel reported third-quarter 2026 revenue of $16.51 billion, up 20.9% year on year, and non-GAAP earnings per share of $0.52. Both metrics cleared Wall Street's expectations, but the company's forward guidance disappointed investors. Intel projected fourth-quarter revenue between $15.0 billion and $16.0 billion and non-GAAP earnings per share of $0.25. At the $15.5 billion midpoint, revenue guidance fell below analysts' expectations of $17.
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