October started with fears that the Wall Street Crash of October 24, 1929 would repeat. That did not happen for most of the month.
Last week’s market mood worsened considerably. On Friday, Oct. 30, Intel (INTC) fell after it posted quarterly results the day before. Shares fell by 28.58% to close at $65.76. It reported revenue of $16.51 billion (+20.5% Y/Y). Its CEO said that despite headwinds in the PC sector, CPU demand remained robust.
Intel cannot boost PC sales amid RAM (DDR5) prices rising by 300-500% Y/Y. SSD (storage) prices also doubled or so, deterring consumers from upgrading. Consumers may avoid the mandatory Microsoft (MSFT) Windows by installing the more efficient, secure Linux system on older machines at no cost.
Shares of Reddit (RDDT), a social networking site, cratered, falling by 29.22% to $91.73. The company blamed Alphabet (GOOG) chatbot AI crawlers for taking its content. It will make logging in mandatory for users. This will most likely devastate reader traffic. That would hurt advertising revenue. Ad firms will not pay for a site facing declining page views.
Interactive media firms that fell by 10% or more in the last week included Roblox (RBLX), Pinterest (PINS), and Snap (SNAP). Match (MTCH) fell by 8%.
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