Intel stock plunges 16% as chipmaker blames PC slowdown for weak guidance

Intel’s stock declined sharply in extended trading on Thursday following the company’s announcement of a weaker-than-expected fourth-quarter forecast. The chipmaker attributed the miss to continued softness in the global personal computer market, which analysts have noted declined 4% in the second quarter due to elevated costs for memory and other semiconductor components.
Third-quarter results showed mixed performance. The company posted revenue of $13.7 billion, representing a 21% increas