Intel Stock Plunges 29%: What the PC Slump Means for Gamers

By GameDrop Staff · Nov 03, 2026 · Industry · 2 min read

Intel Core Ultra 400K Nova Lake processor graphic — Image: VideoCardz

Intel shares fell nearly 29% after its Q3 report last Thursday, which Yahoo Finance's coverage describes as the company's worst day since 1974. Intel beat Q3 estimates, but guided Q4 revenue to $15 billion to $16 billion, well under the roughly $17 billion analysts expected. The company blamed a worse-than-expected drop in the PC market. AMD reports its own Q3 results after the US close today.

Quick summary

Intel's Q4 revenue outlook: $15B to $16B versus analyst hopes of about $17B.
Stated reason: the PC market is declining faster than Intel expected.
Two causes per Yahoo Finance: tough comparisons with last year's Windows 10 end-of-support upgrade wave, and steadily rising PC prices cutting demand.
AMD reports today; analysts expect about $13B revenue and a steep drop in its gaming segment.

Why did Intel stock crash?

Investors reacted to the forecast, not the quarter. Intel's Q3 numbers topped expectations, but a Q4 range this far below consensus signalled weak PC demand into the holidays. Yahoo Finance reports that a year ago enterprises rushed to buy Windows 11 PCs as Microsoft ended Windows 10 support, which makes this year's comparison harder, while rising PC prices are eating into demand.

One tech outlet, Shattered, says Intel guided 2026 PC shipments down about 12% and that shoppers should expect more laptop and prebuilt promotions this holiday season. We could not tie the 12% figure to Intel directly in the sources we opened, so treat it as that outlet's reading rather than a confirmed number.

What does AMD report today?

Per Bloomberg consensus quoted by Yahoo Finance, analysts expect AMD to post earnings of about $1.97 a share on roughly $13 billion in revenue, against $9.2 billion a year ago. Data center is expected to be $8.19 billion, up 88%. Client (PC) revenue is expected at about $3.06 billion, up 11% year on year but flat from the previous quarter.

The gaming line is the weak spot: Wall Street expects a 49% revenue decline to $655 million. That division covers PC graphics cards and custom console chips, and Yahoo Finance says both face higher prices from the memory and storage shortage, which depresses demand.

Illustration of an Intel processor die on a circuit board — Image: Future / Tom's Hardware

What does it mean for gaming PC buyers in India?

The same memory squeeze is visible in shop prices. Our report on GPU prices rising 35% in three months and the RTX 5090 shortage show the trend. If demand really is falling, retailers may discount laptops and prebuilts, but nothing in these sources promises GPU or RAM price cuts. If you need a PC now, compare current offers on our deals page rather than waiting on a forecast.

Does this change Intel's next chips?

The sources do not say Intel is delaying anything. Separate coverage quotes CEO Lip-Bu Tan calling Nova Lake the product that fills the company's "hole" in high-end desktops. For what is rumored about that chip, read our Nova Lake gaming leak piece.

Bottom line

This is a demand story: pricier memory and a post-Windows-10 hangover are hitting PC sales. It does not by itself lower prices, and AMD's report tonight will show how much of the weakness reaches the gaming side.