Intel CEO Lip-Bu Tan Buys $9.7 Million in Stock as Shares Keep Sliding After Historic October Collapse

Intel Chief Executive Lip-Bu Tan bought nearly $10 million of the company's stock, according to a regulatory filing released Wednesday, but the purchase failed to halt a slide in the chipmaker's shares following their worst month on record.

Tan acquired 150,000 shares of common stock worth $9.7 million on Nov. 2 through his family trust, according to the filing. He bought through several open-market transactions at prices ranging from $64.705 to $64.735, and his indirect holdings rose to roughly 1.46 million shares.

The stock kept falling anyway. Intel closed at $58.27 on Wednesday, down 3.77%, after closing at $60.55 on Tuesday.

Worst month on record

The purchase follows a stunning collapse. Intel stock lost 45% of its value in October, the largest one-month decline ever recorded, according to CNBC. Shares fell 29% on Oct. 30, a one-day loss not seen since the 1970s.

Intel closed on Nov. 3 at 57% below its high of $140.94 from June 22. Despite the drop, the stock remains well above where it began the year. Trefis data shows Intel up about 64% year to date.

Strong quarter, weak forecast

The selloff was triggered by guidance, not results. Third-quarter revenue rose 21% to $16.5 billion, with data center and AI revenue up 78% to $7.3 billion, while client computing revenue fell 5% to $8.1 billion.

The outlook disappointed. Intel forecast fourth-quarter revenue of $15 billion to $16 billion, below the consensus of $17.05 billion, and adjusted earnings of 25 cents a share, also missing expectations.

Supply problems contributed. Despite robust demand for server processors, supply chain constraints prevented Intel from fully capitalizing on enterprise compute demand. Rising memory costs have also hindered Intel's ability to capitalize on server demand.

Shrinking PC market

Management's view of the PC business worried investors. Intel now expects industry PC unit sales to fall about 12% in 2026 and roughly 10% again in 2027. Client computing revenue in the third quarter was down 9% from the previous quarter.

Management struck a more optimistic note on other parts of the business. Intel called 2027 a growth year and expects data center momentum from the third quarter to continue.

CEO's second big bet

The purchase is Tan's second major buy this year. He bought 105,263 shares at $95 each through a family trust on Aug. 11. That earlier stake is now well under water, with the stock trading roughly 39% below his August purchase price.

Foundry under scrutiny

The collapse has intensified focus on Intel's manufacturing ambitions. Intel is under mounting pressure to make its foundry business work after the October plunge.

Analysts have trimmed expectations but many remain constructive. One firm lowered its Intel price target to $90. KGI and Evercore were among firms that raised or reaffirmed bullish calls despite valuation adjustments.

Investors are also watching broader pressure on chip stocks after Democrats won control of Congress, raising concerns about tighter oversight of AI and data centers. The next key measure is client computing revenue, which Intel is expected to report with fourth-quarter results in January 2027.