Key facts
- Intel shares fell more than 15% in extended trading.
- Fourth-quarter revenue is projected to be between $15 billion and $16 billion.
- An explosion at an Israeli factory is expected to impact fourth-quarter revenue by about $300 million.
Intel shares plunged more than 15% in extended trading on Thursday after the company released third-quarter results and cautioned that a prolonged slowdown in the personal computer market will continue to weigh on future earnings. The chipmaker's outlook overshadowed 21% revenue growth in the third quarter, which was driven by demand for data center and AI chips. An explosion at Intel's factory in Kiryat Gat, Israel, is expected to impact fourth-quarter revenue by approximately $300 million.