The Dow needs Nvidia to give chipmakers representation in index after Intel's plunge [CNBC]
Dow Inc. (DOW)
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Source: CNBC
The move was more related to the equally spectacular fall of Intel, which has lost more than half its value this year, leaving its stock as almost weightless in the Dow. “A big part of the decision is that semis weren't being represented,” said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. At around $23 a share, Intel is no longer a viable member of the Dow Jones Industrial Average. That was the conclusion of the S&P Dow Jones committee, which decides when changes need to be made to the 30-member index, long viewed as a key barometer of the U.S. economy. After markets closed on Friday, S&P said Intel is out . It's being replaced, on Nov. 8, by rival chipmaker Nvidia , which has ballooned to become the world's second most-valuable public company, just a hair behind Apple as of Monday. With the change, four of the tech industry's six trillion-dollar companies will be in the Dow, with internet giants Alphabet and Meta still on the outside. For those two co
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