Intel warning sparks chip rout as PC weakness clouds turnaround

By Anhata Rooprai Oct 30 (Reuters) Intel s shares slumped 25% in premarket trading after the chipmaker forecast a bleak quarter and warned of persistent weakness in the personal computer market through at ​least the first half of 2027, sparking a selloff in ‌global chip stocks. The decline puts the US chipmaker, which forecast fourth-quarter revenue and profit below Wall Street expectations, on track to lose more than $123 billion in market value and open at its lowest level in about six months if losses hold ‌through ​the regular trading session. The forecast underscores the ⁠challenges facing CEO Lip-Bu Tan s ⁠turnaround effort, with Intel still grappling with a prolonged PC market slump even as it invests heavily in AI and manufacturing expansion. Semiconductor stocks, including Advanced Micro Devices, Arm Holdings, Qualcomm, Nvidia, Broadcom and ​Micron, fell between 2% and 9% in premarket trading. The STOXX Europe 600 Technology Index was down 2.1%, with sector heavyweight ASML