Why Intel Stock Was Slipping Today
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Shares of Intel fell 3.2% after news it will be removed from the Dow Jones Industrial Average, replaced by Nvidia. This marks the end of Intel's 25-year presence in the Dow, reflecting its declining relevance in the chip sector. Although the removal won't significantly impact Intel's business, it may lead to ETF sell-offs. Despite a 6% revenue drop in Q3, investors are optimistic about fourth-quarter guidance, anticipating a revenue increase and a return to profit as Intel continues its restructuring efforts.
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