Intel shares plunged over 20% in after-hours trading after the company's revenue forecast missed analyst estimates. According to Jinse Finance, on October 30th, Intel's quarterly revenue outlook fell short of analyst expectations, citing weak demand for PC processors and supply chain issues affecting lucrative data center components. The company's stock price plummeted over 20% in after-hours trading. Intel stated on Thursday that it expects fourth-quarter revenue of $15 billion to $16 billion, compared to the average analyst estimate of $17 billion, with some forecasts even exceeding $18 billion. Excluding certain items, fourth-quarter earnings per share are expected to be 25 cents, compared to Wall Street's expectation of 43 cents. Intel is grappling with a severe downturn in the PC market. Its major customers, laptop and desktop manufacturers, are facing memory chip shortages and soaring component prices, leading to declining PC shipments and weakened user demand. Intel CEO Li-Wu Chen stated that the company's data center business would have performed better had it not been for shortages of some raw materials and the shutdown of a factory in Israel. Intel is working to resolve these supply issues. When discussing the PC market, he said, "One of the main challenges is memory chips. Memory chip prices have risen significantly. I expect this to be a very serious problem for all of us by 2027. It's not just us; the entire market is affected." Intel anticipates the PC market downturn will last at least until the first half of 2027, with the market shrinking by 10% next year, following a 12% decline in 2026. However, looking further ahead, the company remains optimistic about product demand and is increasing spending on new equipment to boost production. Chen Liwu stated that the company is increasingly confident in attracting other chip manufacturers to use Intel's factories for chip production.