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Intel Corp (NASDAQ:INTC) and Microsoft Corp (NASDAQ:MSFT) were among the companies that entered the Dow Jones Industrial Average during the dot-com era.
Analysts and investors told Reuters Intel was likely to be removed from the Dow, pointing to the company’s stock price trajectory.
Intel missed out on the artificial intelligence boom as OpenAI’s investment failed to materialize, and its contract manufacturing unit continued to lose out to Taiwan Semiconductor Manufacturing Co (NYSE:TSM).
Intel plans to ship chips for over 100 million AI personal computers by 2025, with over 40 million targeted for 2024.
Recent reports indicated Intel is looking to break up its product design and manufacturing businesses, including postponing some of its expansion plans. Investors can gain exposure to Intel through Vanguard Information Tech ETF (NYSE:VGT) and SPDR Select Sector Fund – Technology (NYSE:XLK).
Analysts snubbed Intel’s dividend suspension and record layoff of close to 15,000 employees.
Ryuta Makino of Gabelli Funds speculated that Nvidia Corp would replace Intel on the Dow, as per Reuters.
Nvidia has been up 129% in the last 12 months as it successfully milked the A frenzy, while Intel has been down 44%. Taiwan Semiconductor is up 71%.
According to Reuters, Daniel Morgan of Synovus Trust notes Texas Instruments Inc (NASDAQ:TXN) as a possible Dow Jones contender.
Price Action: INTC stock is down by 6.63% at $20.58 at the last check on Tuesday.
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