Jefferies lowered Intel's price target from $120 to $85, and Piper Sandler lowered Intel's price target from $110 to $90. According to the news, Intel's third-fiscal quarter results announced on Thursday were disappointing, and PC sales are expected to continue to slow. The company's stock price plummeted more than 20% in after-hours trading. Intel expects revenue for the fourth fiscal quarter to be between $15 billion and $16 billion, with adjusted earnings per share of 25 cents. Analysts had anticipated the company's fourth-quarter revenue of $17.29 billion and adjusted earnings per share of 45 cents.

Jefferies lowered Intel's price target from $120 to $85, and Piper Sandler lowered Intel's price target from $110 to $90. According to the news, Intel's third-fiscal quarter results announced on Thursday were disappointing, and PC sales are expected to continue to slow. The company's stock price plummeted more than 20% in after-hours trading. Intel expects revenue for the fourth fiscal quarter to be between $15 billion and $16 billion, with adjusted earnings per share of 25 cents. Analysts had anticipated the company's fourth-quarter revenue of $17.29 billion and adjusted earnings per share of 45 cents.