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Key Takeaways
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Intel shares tumbled Tuesday amid worries the inventory might be in peril of shedding its standing as a member of the Dow Jones Industrial Common (DJIA).
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The chipmaker’s inventory has fallen practically 60% for the reason that begin of the yr, making it the DJIA’s worst-performing element.
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Disappointing second-quarter earnings outcomes final month despatched Intel shares to their lowest degree since 2013.
Intel (INTC) shares tumbled over 8% in intraday buying and selling Tuesday amid worries the chipmaker might be in peril of shedding its standing as a member of the Dow Jones Industrial Common.
The corporate was one of many first tech corporations to hitch the 30-stock index in 1999, however final month’s disappointing second-quarter earnings outcomes despatched shares to their lowest degree since 2013. The inventory is the worst-performing constituent of the DJIA this yr, with shares down practically 60% from the beginning of 2024.
The DJIA is a price-weighted index that tracks 30 giant, publicly-owned corporations buying and selling on the New York Inventory Trade and the Nasdaq. Intel is the lowest-weighted element of the index, making up simply 0.3% of the DJIA as of final final week.
The final time DJIA membership modified was in February, when Walgreens Boots Alliance (WBA) was changed by Amazon (AMZN).
A spokesperson for S&P Dow Jones Indices declined to touch upon Intel’s standing.
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