Intel Shares Drop 21 Percent on Blast and Weak Outlook
Intel shares plunged after a deadly explosion at an Israeli factory and a weak sales forecast. The chipmaker expects a revenue hit from the blast and a slowing personal computer market.
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INTEL CORP shares plunged 21% on Thursday after a factory blast in Israel erased $600 million in revenue. The chipmaker warned that a faltering PC market would dent sales through the first half of next year. The gloomy outlook threatens to wipe over $80 billion from the company's market value.
