Intel Stock Plunges 28.6% in Worst Drop Since 1974

Intel just suffered its worst drop since 1974 after plunging twenty-eight point six percent on Friday. The historic crash came because the chipmaker issued a weak profit forecast for the final three months of the year. CEO Lip-Bu Tan pointed to ongoing pressure across the personal-computer industry. The brutal fall arrived even though Intel beat profit expectations for the latest quarter. Wall Street is suddenly moving out of the hopes and dreams phase of the artificial-intelligence trade. Investors are now demanding proof that massive tech spending will actually pay off. Amazon burned through forty-two point four billion dollars in cash over the prior twelve months. Alphabet also watched its stock tumble after reporting huge summer cash losses tied to data center investments. Nvidia fell four point two percent and became the heaviest force pulling down the S&P 500 index.