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Intel Is Left Behind as Chip Stocks Roar Back

  • The stock has fallen since Nasdaq 100 Index’s June bottom
  • Falling profit estimates are making the shares more expensive
Intel Corp. headquarters in Santa Clara, California.

Intel Corp. headquarters in Santa Clara, California.

Photographer: David Paul Morris/Bloomberg
Updated on

Intel Corp. has been conspicuously missing from a rebound in technology stocks that’s lifted almost every other member of the Nasdaq 100 since the index bottomed in June.

The world’s biggest maker of computer processors is one of just six companies in the tech-heavy benchmark whose shares have lost ground since June 16. Meanwhile, the index has jumped 21% as cheaper valuations and optimism that inflation is cooling have enticed traders to snap up beaten-down tech stocks.