US Stock Movement | Intel (INTC.US) drops over 28% after Q4 guidance falls far short of market expectations

According to Zhihui Finance APP, on Friday, U.S. semiconductor stocks collectively declined. Intel (INTC.US) fell by more than 28%, AMD (AMD.US) and ARM (ARM.US) dropped over 10%, TSMC (TSM.US) was down nearly 4%, and Nvidia (NVDA.US) lost more than 3%. In terms of news, Intel released its third-quarter financial report. The data showed that Intel achieved a revenue of $16.51 billion in the third quarter, a year-on-year increase of 21%. Under GAAP, net profit was $3.32 billion, down 18% year-on-year, and diluted earnings per share were $0.60, a year-on-year decrease of 33%. The Non-GAAP performance was outstanding, with net profit reaching $2.756 billion, a surge of 169% year-on-year, and earnings per share at $0.52, significantly exceeding market expectations of $0.40. However, the company expects Non-GAAP earnings per share for the fourth quarter to be only $0.25, and gross margin is expected to drop to 38%, lower than the 44.1% in the third quarter, raising concerns in the market about its profit outlook.