Intel Corporation (NASDAQ:INTC) was one of the first Nasdaq-listed and technology stocks to be added to the Dow Jones Industrial Average when it became a component back in 1999. After 25 years, the stock was removed and swapped out for NVIDIA Corp. (NASDAQ:NVDA) in 2024.
What seemed like a smart move at the time has had a surprising outcome for investors.
• Intel stock is trading near recent highs. Where is INTC stock headed?
Intel Vs. Nvidia: Dow Jones Swap Results
Intel shares have surged in recent weeks, hitting 25-year highs and recently passing all-time highs.
That’s good news for Intel investors and bad news for investors who no longer have exposure to the stock, such as investors in the Dow Jones Industrial Average and the ETFs, including the State Street SPDR Dow Jones Industrial Average ETF (NYSE:DIA), that track the well-known stock market index.
Intel was swapped out of the Dow Jones Industrial Average on Nov. 8, 2024, and replaced by Nvidia stock. The move was done as Intel stock had underperformed and Nvidia stock had been surging.
Here’s a look at the performance from Nov. 8, 2024, to now, using the high price on Nov. 8, 2024, and the market close price on April 27, 2026.
Intel Stock: +221.6%
Nvidia Stock: +44.6%
SPDR Dow Jones Industrial Average ETF: +11.3%
SPDR S&P 500 ETF Trust (NYSE:SPY): +19.3%
Intel stock has significantly outperformed Nvidia stock since being replaced in the Dow Jones Industrial Average index. The semiconductor has also outperformed the Dow Jones Industrial Average and S&P 500 stock market indexes by a wide margin.
Why Intel Was Removed
The removal of Intel stock wasn’t a controversial move at the time, but might be today based on the performance since the change was made.
Intel stock was the second-worst performer in the Dow Jones Industrial Average with a loss of 59.6% in 2024. The only company that posted a worse return was Walgreens Boots Alliance, which was also removed from the index. Walgreens was replaced by Amazon.com Inc. in February 2024.
The swap of Intel and Nvidia marks the latest change to the Dow Jones Industrial Average.
Intel was in the index for 25 years, first joining on Nov. 1, 1999.
During its 25 years in the Dow Jones Industrial Average, Intel’s stock traded down overall. The stock went from a high of $39.16 on its first day in the index to a high of $26.43 on the day it was removed. Those prices are adjusted for stock splits, but do not include dividends.
With a year-to-date gain of 14.7%, Nvidia is one of the top-performing Dow Jones Industrial stocks of 2026. While the stock isn’t up as much as Intel, Nvidia could end up being an important piece of the stock market index moving forward.
Over the next 25 years, things could end up reversing course and seeing Nvidia stock outperform Intel.
Photos: Shutterstock
Recent Comments