Intel shares drop 17%, $46B wiped after supply miss; $9B boost and 120% rally fade

Updated January 24, 2026, the report details that Intel acknowledged on its earnings call it could not meet surging demand, and the shares fell 17%, erasing over $46 billion in value. This followed nearly $9 billion in backing and a 120% five‑month rally, but earlier capacity cuts left it short of needed CPUs.