Nvidia set to replace Intel in the Dow Jones Industrial Average starting today – Investing Abroad News

Nvidia, perhaps the most popular AI stock in the world, is set to be added to the Dow Jones Industrial Average or the Dow 30 index. NVIDIA Corp. (NASD:NVDA), the $3.3 trillion market cap company, will replace Intel Corp. (NASD:INTC) to ensure a more representative exposure to the semiconductors industry.

The changes in the Dow 30 index will be before the market opens on November 8, 2024.

Nvidia’s significant role in generative AI technologies has led to a seven-fold increase in its shares over the past two years, solidifying its position as a key player in the global semiconductor industry.

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The company’s June 10-for-one stock split made its soaring shares more accessible to retail traders. No wonder, Nvidia is up over 217% since November 7, 2023. In 2024, NVDA has gained over 200%, notching the top spot among the large-cap stocks.

Nvidia shares dropped nearly $900 billion in value due to AI returns concerns and delays for Blackwell chips. However, they rebounded with reassurances from CEO Jensen Huang that Blackwell production is on track.

Nvidia, a leading semiconductor company, is set to report Q3 results on November 20, with an expected increase of 81.9% in earnings and revenues compared to the same period last year.

Further, The Sherwin-Williams Co. (NYSE:SHW) will replace Dow Inc. (NYSE:DOW) in the Dow Jones Industrial Average.

The Dow 30 index serves as a barometer for the US economy, its firms, and national consumer trends. Dow 30 has gained nearly 30% over the last 1-year.

For those looking to diversify across economies, the Dow is an excellent method to capitalize on the expanding prospects in US markets. Dow 30 index is a part of S&P Dow Jones Indices and has a diversified exposure to various sectors of the economy except transportation and utilities

The way the Dow 30 index is structured is different from other leading indices. The Dow is a price-weighted index that measures the performance of 30 of the largest U.S. Companies. Unlike other indices, in Dow 30, the selection is not governed by quantitative rules but as per the S&P indices website, “a stock is added to the index only if the company has an excellent reputation, demonstrates sustained growth and is of interest to a large number of investors.” Further, it is to be maintained that the companies are incorporated and headquartered in the U.S. with a large part of revenues being generated from the U.S.

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