Intel (NASDAQ: INTC) heads into this week’s third-quarter report after an 8.04% drop to $85.49 on Thursday, October 22, when a broad chip selloff hit the stock days after a price target cut. Shares sit about 40% below their 52-week high of $142.35 and had already dropped about 15% in the month to October 19.
The slide came without any change to Intel’s own outlook. That puts the focus on Thursday, October 29, when Intel reports third-quarter results after the close, with the call at 5:00 p.m. ET.
What Drove Thursday’s Drop
The Philadelphia Semiconductor Index, a widely followed chip-stock benchmark, fell 6.72% to its lowest close since July 29 after Lam Research flagged supply limits and Meta’s spending revived worries about AI funding….
