1657 ET - Intel says a slowdown across the personal computer market driven by a shortage of memory technology weighed on its results in the third quarter. The client computing and physical AI group, which includes its PC business, reports a 5% decline in revenue to $7.3 billion. Rising memory costs have led to a drop in PC shipments and a steep increase in prices, The Wall Street Journal reported earlier this fall. Intel says the trends in the PC markets are impacting its total addressable market, with CFO David Zinsner projecting that the PC slowdown will continue at least through the first half of 2027. Intel shares are down 16% after-hours.
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