Intel (INTC) shares slid lower on the first day of trading this week after CEO Pat Gelsinger was said to be considering selling the former Altera unit that makes field programmable gate array (FPGA) chips.
An analyst at the Carson Group thinks Intel is likely to be dropped from the Dow Jones.
dipped some 6% on Tuesday morning, while chatter emerged about whether the Dow Jones Industrial Average might drop Intel from its indexaltogether. The Dow Jones index is sinking 1.1% midday on Tuesday after US manufacturing data showed contraction in August. This comes after the DJIA reached another all-time high last week. The NASDAQ is off a whopping 2.5% as well on Tuesday.
stock is down 59% year to date and has essentially been in a downtrend since hitting an all-time high in August 2000, although shares had recovered near that level in both 2020 and 2021. Intel entered the Dow Jones in November of 1999.
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