Intel's Worst Day Since the 1970s: What Friday's Tech Rout Says About the AI Spending Boom
Intel plunged 29% on a weak outlook, Amazon slipped, and the Nasdaq closed out its worst month since March 2025. But corporate earnings are still beating forecasts, and America's only home-grown maker of advanced logic chips remains a strategic bet worth watching.
By Clara Hughes
Wall Street ended October with a thud. On Friday the Nasdaq Composite fell 2.9% and the S&P 500 dropped 1.8%, while the Dow Jones Industrial Average lost 1.1%, Investopedia reported. For the month, the Nasdaq fell 5.3%, its biggest one-month decline since March 2025. The S&P 500 slipped 0.9% in October, while the Dow gained 1.7%. The trigger was a pair of earnings reports released after Thursday's closing bell. Intel shares plunged 29% on Friday, their worst day since the 1970s, CNBC reported, after the chipmaker issued weaker-than-expected guidance. Amazon fell 1.4% after missing Wall Street's expectations on revenue and profit, according to CNBC and Investopedia. The real worry is bigger than two companies. Investors are growing nervous about the enormous sums Big Tech is pouring into artificial intelligence, and whether those investments will pay off, CNBC reported. That concern had already hit Alphabet, which suffered a sharp sell-off on Thursday after its