Intel’s woes wipe out $1 trillion of semiconductor market cap in one day — PC market bloodbath leaves few chip stocks unscathed

The decline followed a disappointing financial outlook, largely driven by an anticipated drop of more than 20% in sales at Intel's client computing group (CCPG), the company's main cash cow.

The declines quickly spread across the semiconductor industry. Although losses elsewhere were nowhere near as severe as Intel's, approximately $1 trillion in semiconductor market capitalization was wiped out on Friday, according to intraday estimates by Benzinga.