Intel’s shares fell 16% after the company warned that a slowdown in the PC market would hurt its earnings and guidance.
The chipmaker, which has recently gained attention for its AI initiatives, said the weak performance of the PC market would weigh on its financial outlook.
Intel’s stock had been a favourite on Wall Street this year, driven by the company’s emergence as a player in artificial intelligence.
However, the company’s latest guidance highlighted that the ongoing slump in PC demand would limit growth in its core business.
Investors reacted sharply, sending the shares down 16% in a single trading session.
<small>Source: CNBC — read the original story there.</small>