Intel’s ‘Historic Collapse’ Erases $8 Billion From Market Value

Visitors are seen at the Intel booth during the China Digital Entertainment Expo and Conference, in Shanghai, China, on July 30, 2021. Aly Song/Reuters

Intel Corp. saw about $8 billion wiped off its market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market.

The company predicted a surprise loss for the first quarter and its revenue forecast was $3 billion below estimates as it also struggled with slowing growth in the data center business.