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Key Takeaways
- Intel shares tumbled Tuesday amid worries the stock could be in danger of losing its status as a member of the Dow Jones Industrial Average (DJIA).
- The chipmaker’s stock has fallen nearly 60% since the start of the year, making it the DJIA’s worst-performing component.
- Disappointing second-quarter earnings results last month sent Intel shares to their lowest level since 2013.
Intel (INTC) shares tumbled over 8% in intraday trading Tuesday amid worries the chipmaker could be in danger of losing its status as a member of the Dow Jones Industrial Average.
The company was one of the first tech companies to join the 30-stock index in 1999, but last month’s disappointing second-quarter earnings results sent shares to their lowest level since 2013. The stock is the worst-performing constituent of the DJIA this year, with shares down nearly 60% from the start of 2024.
The DJIA is a price-weighted index that tracks 30 large, publicly-owned companies trading on the New York Stock Exchange and the Nasdaq. Intel is the lowest-weighted component of the index, making up just 0.3% of the DJIA as of last last week.
The last time DJIA membership changed was in February, when Walgreens Boots Alliance (WBA) was replaced by Amazon (AMZN).
A spokesperson for S&P Dow Jones Indices declined to comment on Intel’s status.