A removal will hurt its already bruised reputation
) was one of the first two tech companies to join the Dow Jones Industrial Average during 1999′s dot-com era, along with Microsoft. Now, a slump in its share price could cost the American chipmaker its place in the blue-chip index.
To fund a turnaround, Intel suspended dividend and announced layoffs affecting 15% of its workforce during its earnings report last month. But some analysts and a former board member believe the moves might be too little, too late for the chipmaker. S&P Dow Jones Indices, which manages the Dow, declined to comment on whether Intel could be removed from the index.
The Dow’s selection committee monitors whether the highest-priced stock in the index has a price more than 10 times that of the lowest. Currently, the highest weighted stock - UnitedHealth Group - is priced about 29 times higher than Intel. With shares up more than 160% this year, Nvidia has become one of the world’s most valuable firms thanks to the essential role its chips play in powering generative AI. A stock split in May also increased the odds of its inclusion.
Texas Instruments’ shares have risen more than 20% this year to $211.09 as of Thursday, which is closer to the Dow constituents’ average price of about $209.
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