Intel Crashes -30% — Worst Day Since 1974, CDS at Record High
Intel's Q4 guidance miss sent the stock down 30%, its worst single-day drop in over 50 years. Credit default swaps hit a record 123.5 bps, and Intel joins a long list of tech names deep in bear market territory.
What we know
Intel's Q3 earnings beat was overshadowed by a catastrophic Q4 outlook miss across revenue, EPS, and gross margin — with the PC business slowdown as the core culprit — an account on X. The stock fell ~30%, its worst performance since 1974. The 5-year CDS widened to a record 123.5 bps — biggest one-day move since October 2022 — another account on X. Intel sits in a broader tech wreckage: another account on X lists AppLovin -68%, Coinbase -62%, CoreWeave -60%, Arm -55%, Intel -54%, Oracle -51%, Circle -48% from recent highs — another account on X. Crypto traders reacted with dark humor: Another account on X longed Intel's selloff on Binance the same day Binance was hacked, commenting 'I just want to feel something.' another account on X asked whether Binance's hacker also stole Intel shares.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.