Intel and Reddit Shares Tumble After Weak Guidance Spooks Investors
Intel shares fell as much as Intel stock plunges 20% as chipmaker blames PC slowdown for weak guidance.
, according to CNBC, and more than Intel's stock sinks over 15% as PC slowdown drives disappointing outlook — live.
according to MarketWatch, after the chipmaker issued weaker-than-expected guidance for the current quarter. CNBC reported the company pointed to a slowdown in the PC market as the drag on its outlook, even as Intel has drawn investor attention this year for its push into AI.
Following the guidance miss, several analysts lowered their price targets on Intel, according to CNBC, with the stock’s decline described by MarketWatch as a historic drop. MarketWatch reported that analysts see no reason to buy the dip, while CNBC’s Investing Club noted that further downside is possible but that selling now would not recover losses already taken.
Separately, Reddit shares plunged about Reddit stock plunges 30% after weak outlook, heads for worst day ever.
and were on pace for their worst day on record, according to CNBC. The outlet reported Reddit issued weak fourth-quarter sales guidance and said it plans to test requiring users to log in in order to view content on the platform.
Both companies' stock drops followed earnings reports that fell short of Wall Street’s forward-looking expectations, according to CNBC and MarketWatch, though the underlying causes differed: a PC demand slowdown for Intel and a weak sales outlook paired with a platform policy change for Reddit.
Sources: CNBC, MarketWatch
This article is for information only and is not financial advice.
What the market did
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