One-sentence summary
This guide walks investors through Intel's Q3 2026: $16.5B revenue, ~80% data-center growth, a light Q4 guide and margin outlook, explaining the logic behind the 28% stock crash.
Steps
Step 1: Check revenue and profit Q3 GAAP revenue $16.5B up 21% YoY; net income $3.32B down 18%; diluted EPS $0.60.
Step 2: Break down segments Focus on data-center up ~80% YoY on AI-server demand; client PC weakness is the drag.
Step 3: Compare Q4 guide with estimates Q4 revenue guide $15-16B (midpoint $15.5B) vs ~$17B expected; non-GAAP EPS guide $0.25 vs ~$0.43 expected.
Step 4: Watch margins and costs Non-GAAP gross margin guide 38.0%, plus the Kiryat Gat fab incident's capacity impact.
Step 5: Read the stock reaction On October 30 it closed down over 28% at $65.76, market cap ~$349.2B, nearly $150B wiped out, reflecting disappointment with the guide.
Step 6: Track future revisions Watch whether PC demand stabilizes before H1 2027 and whether data-center growth continues.
Sources
- Intel IR: Q3 2026 Earnings Release
- Securities Times: Q4 guidance far below expectations