Intel stock has worst day since 1970s, wiping about $12 billion off government's stake
- Intel CEO Lip-Bu Tan speaks during a keynote presentation at Computex in Taipei on June 2, 2026.
- Cheng Yu-chen | Afp | Getty ImagesIntel shares plummeted 29% on Friday, their worst day since the 1970s, after the chipmaker issued weaker-than-expected guidance due to a plant shutdown in Israel and ongoing softness in the PC market.
- It's a major setback for CEO Lip-Bu Tan, who was hired in March 2025, and has since been on a campaign to revive the company after it missed out on the early years of the artificial intelligence boom.
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- Intel CEO Lip-Bu Tan speaks during a keynote presentation at Computex in Taipei on June 2, 2026.
- Cheng Yu-chen | Afp | Getty ImagesIntel shares plummeted 29% on Friday, their worst day since the 1970s, after the chipmaker issued weaker-than-expected guidance due to a plant shutdown in Israel and ongoing softness in the PC market.
- It's a major setback for CEO Lip-Bu Tan, who was hired in March 2025, and has since been on a campaign to revive the company after it missed out on the early years of the artificial intelligence boom.
Sources: Cnbc