Melius Research analyst Ben Reitzes, rated five stars by TipRanks, cut his Nvidia stock price target to $315 after Intel shares plunged nearly 29%, while keeping a Buy recommendation even as Nvidia shares trade roughly 15% below their October high. Intel's Oct. 30 stock tanking of 29% followed an earnings report in which Q3 revenue rose 21% to $16.5 billion and its data-center and AI segment grew 78%, but management forecast just $15 billion to $16 billion in Q4 sales, missing Wall Street's expectations by over $1 billion. Higher memory prices continue to squeeze PC demand, shortages of critical components have prevented Intel from meeting some server-chip orders, expanding manufacturing capacity is costly, and the company warned it doesn't foresee positive cash flow this year. CEO Lip-Bu Tan said demand for CPUs remains robust despite near-term headwinds across the PC industry. Intel's rout coincided with a 10.9% slide in AMD, a 4.2% drop in Nvidia, and an 8.2% fall in the iShares Semiconductor ETF, which plunged 8.2% on Oct. 30, wiping out an estimated $1 trillion in chip stock market value during the session.