Intel shares extended their decline following last Thursday’s earnings report, which triggered the stock’s largest single-day drop since 1974. The main catalyst was a deeply disappointing Q4 2026 outlook, with revenue forecast at $15B–$16B versus approximately $17.1B expected and adjusted EPS of $0.25 versus $0.44 consensus. Analyst downgrades and price-target cuts continued, with Bank of America, Roth Capital, Seaport Research and Freedom Broker lowering ratings to Neutral or Hold, while JPMorgan, Truist and RBC reduced price targets. CFO David Zinsner warned that PC market weakness could persist through at least H1 2027. Additionally, an incident at Intel’s Israeli manufacturing facility could disrupt $300M–$600M in revenue, adding to near-term supply constraints. The broader market remained relatively constructive, with the S&P 500 and Nasdaq posting modest gains, highlighting Intel-specific selling pressure. $INTC $JPM