Intel Plunges Nearly 29%, AMD Falls After Earnings — SkimNews
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- AMD’s stock slid after Intel’s earnings revealed two big issues, adding a peer-stock reaction to coverage otherwise centered on Intel’s own plunge.
- Intel plunged nearly 29%, its worst session since 1974, wiping about $12 billion from the government’s stake and making it October’s worst-performing S&P 500 stock.
Why it matters: The sharpest measurable loss was the government’s Intel stake, which shed about $12 billion as the stock plunged nearly 29%. AMD’s slide adds the peer read-through: Intel’s earnings mattered beyond the company reporting them, extending the pressure to another chip stock.
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