Intel shares plunged 20% in after-hours trading on Thursday after the company issued a weak fourth-quarter outlook, attributing it to the ongoing softness in the global PC market. Intel expects adjusted earnings per share of 25 cents and revenue between $15 billion and $16 billion for the current quarter, both falling short of analysts' expectations of 43 cents per share and $17.1 billion in revenue. Although third-quarter revenue increased 21% year-over-year to $13.7 billion, revenue from the Client Computing and physical AI divisions declined 5% year-over-year to $8.1 billion, missing expectations. Data Center and AI revenue, however, grew 78% to $7.3 billion. Company CFO David Zinsner stated that the slowdown in the PC market is expected to persist into the first half of next year.