Intel Plunges 30pc in Tech Sell-Off: Stocks to Watch

Quick Answer: Intel plunged 30% after saying the AI boom was slowing its PC market by driving up memory chip prices, and Amazon shares dropped 5.5% at the start of New York trading after missing profit and revenue expectations. The Nasdaq Composite fell 2.7% midday on 31 October. No Bursa Malaysia-listed company appears in the reports, so Malaysian investors can read this as a signal for global tech holdings rather than a direct local event.

The tech sell-off deepened on Friday, 31 October, after weak earnings from US giants fanned fears about the AI investment boom. Intel and Amazon led the losses, with the two reports stoking worries about how much companies are spending on artificial intelligence.

Why Did Intel Plunge 30% in the Tech Sell-Off?

Tech sell-off hits Intel and AI chip stocks — Tech stocks retreated again on 31 October as AI concerns deepened.

Intel said the AI boom was slowing its key market for personal computers by driving up the price of memory chips. That admission sent the stock down 30% in a single session.

Kathleen Brooks, research director at XTB, called it “a continuation of the recent AI sell-off on disappointing earnings.” The reaction followed a week in which Anthropic‘s IPO filing had briefly lifted tech sentiment.

How Far Did Amazon, Nvidia and AMD Fall?

Amazon: down 5.5% at the New York open after missing analyst expectations for profits and revenue, though losses were pared in the morning session.
Nvidia: down 4.6%.
Micron: down 5.9%.
AMD: down 11.7%, the steepest fall among the AI semiconductor names cited.
Alphabet: down a further 1.8%, after heavy selling on Thursday wiped billions of euros off its value.
Nasdaq Composite: down 2.7% in midday trading.

Brooks said the AI trade was unlikely to recover on Friday. She added that focus was shifting to non-tech sectors and safe havens.

Did the Binance Hack Drag Bitcoin Lower Too?

Bitcoin fell 5% to US$77,167 after Binance, the world’s largest cryptocurrency exchange, said it had fallen victim to a major hacking attack. The breach hit around US$6.3 billion in funds, four times the US$1.5 billion taken from the Bybit platform in February 2025.

A related headline puts the Binance customer funds hit at RM26b. The source does not confirm that conversion, so check the figure against the original report.

Which Markets Held Up Outside Tech?

London’s tech-light FTSE 100 edged higher, lifted by strong earnings from AstraZeneca and BP. NatWest slumped 8.8% after its third-quarter net profit fell, underperforming rival banks.

Kospi: closed the week down 3.5%.
Tokyo: finished with a 2.0% loss.
Hong Kong: closed up 1.5%.
ExxonMobil: rose 1.9% after third-quarter profits more than doubled to US$15.4 billion on higher oil prices and refining margins linked to the US-Iran war.

Oil prices climbed around 2% on renewed supply fears after Iran said four tankers hit mines in the Strait of Hormuz. Chris Beauchamp, market analyst at IG, said stock markets were ending the week with heavy losses because “tech stocks are so important to global markets.”

Is Bursa Malaysia Exposed to the Tech Sell-Off?

None of the reports name a Bursa Malaysia-listed company, so no local stock code can be tied to these moves. The Kospi and Tokyo losses are worth monitoring because they show Asian markets reacting alongside Wall Street.

Analysts note that Tuesday’s US midterm elections could shape the final two years of Donald Trump’s presidency. Readers who track global names can compare company data using AI Stock Analysis for Malaysians.

Key Takeaways

Intel plunged 30% after blaming AI-driven memory chip price rises for slowing its PC market.
Amazon fell 5.5% at the New York open after missing profit and revenue expectations.
AMD (down 11.7%) and Micron (down 5.9%) led the AI semiconductor losses.
The Nasdaq Composite fell 2.7% midday, while Hong Kong closed up 1.5%.
No Bursa Malaysia-listed company is named in the reports.

Frequently Asked Questions

Why did Intel shares fall 30% on 31 October?

Intel said the AI boom was slowing its key personal computer market by driving up the price of memory chips. That acknowledgement led to a 30% plunge in its shares.

Did Amazon shares recover after missing earnings?

Amazon shares fell 5.5% at the start of New York trading after missing analyst expectations for profits and revenue. The losses were pared during the morning session.

Did the tech sell-off affect Bursa Malaysia stocks?

The reports do not name any Bursa Malaysia-listed company. The Kospi fell 3.5% for the week and Tokyo lost 2.0%, showing Asian markets were affected.

How much did bitcoin fall after the Binance hack?

Bitcoin fell 5% to US$77,167 after Binance said a hacking attack had hit around US$6.3 billion in funds. That is four times the US$1.5 billion taken from Bybit in February 2025.

This article is general information, not investment advice. Do your own research before making any investment decision.

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