Intel and Microsoft were the first high-tech giants to be included in the Dow Jones Industrial Average (DJIA) index in the late 1990s. Their growth happening at the same time as that of the PC market. But times have changed. Microsoft is now the world's second largest company by market cap due to its cloud business and supremacy in the AI sector, whereas Intel is now facing possible removal from the index due to a severe drop in its stock price this year, says analysts and investors in a Reuters report.
For the first time in 30 years, Intel's market capitalization has fallen below $100 billion, marking a significant drop from its peak in 2000. This year alone Intel's stock has plummeted nearly 60% and the company is now the poorest performer in the prestigious DJIA index. After the company announced a $1.6 billion loss for the second quarter its stock price dropped further to the lowest level among the index's constituents, prompting analysts to suggest that its removal is likely imminent.
