Intel shares plummet 30+% following weak guidance blamed on PC market slowdown

Intel Corp. somehow managed to beat expectations despite facing softness in the personal computer market, but its weak forecast for the current quarter sparked panic among investors, and its stock plunged more than 22% in late trading today. The computer chipmaker reported third-quarter earnings before certain costs such as stock compensation of 52 cents per share, easily beating Wall Street’s guidance of 40 cents per share. Revenue for the quarter rose 21% from a year earlier, to $16.51 billion, edging past the Street’s target of $16.5 billion. All told, the company posted net income of $3.3 billion, down from the $4.1 billion it earned in the same period last year. However, the…