Intel Plunges 29% in a Single Day on Oct. 30; Amazon’s Quarterly Capex Hits 103 Trillion Won

Intel shares plunged roughly 29% on October 30, their largest single-day drop since 1974, dragging the Philadelphia Semiconductor Index down 7.2%, despite the company reporting third-quarter revenue of $16.51 billion (up 21% year-over-year), adjusted EPS of $0.52, and 78% growth in data center and AI segment revenue. The selloff followed Intel's fourth-quarter guidance of $15-16 billion in revenue and adjusted EPS of $0.25, with even the top end of the sales outlook falling below Q3 results, alongside disclosure that full-year PC market shipments are expected to decline about 12% versus the prior year. The report also referenced Amazon's quarterly capital investment of 103 trillion won, underscoring the scale of AI infrastructure spending across the tech sector. The sharp divergence between strong Q3 results and weak forward guidance signals mounting investor concern over the durability of the AI-driven semiconductor rally. Watch next: Intel's execution on its Q4 outlook, further PC demand deterioration, and whether hyperscaler capex commitments like Amazon's can offset weakening client-computing demand.