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In a report dated November 10, the Japanese holding company SoftBank (one of the world's largest technology investors) disclosed that back in August it had pledged 87 million Intel shares - about 1.6% of all outstanding shares of the chipmaker. It has already received $7.4 billion against the collateral.
Third-quarter results are due after the US session close, with the management call at 01:00 MSK. The stock headed into the report already battered: on Monday it closed at $466.84, down 7.52% and near the day's low.
On Friday, October 30, AMD shares closed at $504.80 versus $566.42 the day before. There was no company-specific news: the sector was dragged down by Intel's forecast, while AMD's own report is due on November 3.
Intel said the global personal computer market will shrink by about 12% in 2026 and another 10% in 2027. On Friday, October 30, the entire semiconductor sector and computer makers were sold off.
Intel shares (the largest American processor manufacturer) fell 23.56% to $70.39 in Friday's overnight trading - that's minus $21.69 from Thursday's close of $92.07. The market punished the company not for the past quarter, but for its guidance for the coming ones.
