From Dow Jones & Company:

Intel Corp reported a downbeat earnings forecast, leading to a projected stock decline of 10.9%. The company projects first-quarter adjusted earnings per share of 13 cents on revenue of $12.2 billion to $13.2 billion. This is well short of the FactSet consensus. Intel’s stock had previously soared about 50% and is now expected to see its worst single-day percentage decline since 2021. Despite this guidance miss, Intel reported better-than-expected results for the latest quarter, and analysts are predicting that competitors will capitalize on Intel’s ongoing AI server cycle.



Read more: Intel seen struggling to ‘find its footing’ as guidance miss sends stock tanking