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Intel just reported one of its strongest data center quarters in years, and its stock still fell more than 20% after hours. Here is what happened in Intel's Q3 2026 results, reported October 29, 2026, explained in plain English. 📉📈
What Intel reported (Intel press release):
• Revenue: $16.5 billion, up 21% from a year earlier.
• GAAP gross margin: 43.0%, up from 38.2% a year earlier.
• Cash from operations: $5.1 billion.
• Data Center and AI (DCAI): $7.3 billion, up 78%. CFO David Zinsner called it the strongest data center revenue growth in 15 years.
• Client Computing and Physical AI (PCs): $8.1 billion, down 5%.
• Intel Foundry: $6.7 billion, up 58%.
• Intel says it released the Intel 14A 0.9 process design kit (PDK) in October.
• Q4 2026 outlook: revenue of $15 billion to $16 billion and adjusted EPS of $0.25.
What analysts and reporters said:
• Adjusted EPS was $0.52 vs about $0.40 expected (LSEG, via CNBC).
• Analysts expected about $17.1 billion in Q4 revenue and $0.43 in adjusted EPS (CNBC).
• Shares fell more than 20% in extended trading on October 29 (CNBC, Reuters). Reuters noted other chip stocks slipped too.
• Before the report, Intel's stock was up about 150% this year (CNBC).
• Lip-Bu Tan pointed to manufacturing supply shortages, the memory crunch and softer PC demand (Reuters). Zinsner expects the PC slowdown to last through the first half of 2027, with Q4 PC revenue down in the mid-20% range (Reuters).
• An explosion at Intel's Kiryat Gat factory in Israel earlier in October killed two workers and seriously injured one (CNBC, Reuters). Zinsner said the shutdown will cost about $600 million in revenue over two quarters, with production ramping back by November 1 (Reuters).
• 18A is in high-volume production in Arizona, but no major outside foundry customer has been announced yet (CNBC). Tan said Intel expects "a couple of customers ready to announce the next two quarters" (CNBC).
• Global PC shipments fell 4% in Q2 (Counterpoint Research, via CNBC).
This is news, not investment advice.
Chapters:
0:00 Intel's split-screen quarter
0:17 The numbers
0:48 Data center and AI: up 78%
1:24 The PC problem
1:58 Kiryat Gat explosion
2:28 Intel Foundry and 18A
3:02 The outlook and the stock drop
3:35 What it means for you
4:03 Comeback or PC slump?
Comeback story or PC slump? Tell us in the comments 👇
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