Intel INTC — Record -29% Single-Day Crash
Intel shares collapsed up to -30% on weak earnings, shaping up as the worst single-day percentage drop in the company's history — worse than the Dot-Com bubble or 1970s. ~$128B in market cap was wiped in one session.
What we know
Intel's earnings revealed weak PC demand, manufacturing bottlenecks, and heavy capex, sending shares down 29-30% — the biggest one-day loss on record per Dow Jones data, wiping ~$128B in market cap — several accounts on X. Adding to controversy, Intel's CEO reportedly bought $10M in shares at $109 while aware of the weak quarter — an account on X. Technical traders flagged the 50/80 rule triggered — another account on X. Another account on X called it the 'Luna fractal.' The collapse contributed to the Nasdaq 100 dropping 2.8% at open — another account on X.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.