Nvidia Replaces Intel in Dow
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first commercial microprocessor chipTheStreet
•Analysts reset Intel stock forecasts after CEO exits
86% Informative
On Nov. 1 S&P Global said that AI-chip heavyweight Nvidia would replace Intel in the Dow Jones Industrial Average.
The company had been a member of the Dow 30 for 25 years and had billed itself as " the Sponsors of Tomorrow " Pat Gelsinger , who started with the company in 1979 when he was 18 , will take over as CEO in 2021 .
Several investment firms issued research notes following Gelsinger 's departure.
Bank of America Securities analysts said a full separation must clear some key hurdles, such as the $8 billion Chips Act award, which is contingent on Intel maintaining a 35% to 50.1%+ stake in the foundry business.
Oppenheimer said that while investors appreciate Gelsingers 's efforts to refocus the company, Intel continues to face structural headwinds.
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