Intel's Stock Crash Reduces Government Stake Value by $12 Billion

Intel's stock plummeted approximately 28% following a weaker-than-expected outlook for Q4, resulting in a $12 billion decrease in the value of the government's 10% stake. Despite this drop, Intel's stock remains up over 70% for the year. The company cited a slowdown in PC sales due to rising memory prices and availability issues as a contributing factor to its outlook.