Intel (NASDAQ: INTC) stock is seeing significant gains in Wednesday's trading. The semiconductor company's share price was up 3.5% as of 2:15 p.m. ET and had been up as much as 3.8% earlier in the daily sessions.

Despite Q3 2024 challenges, Intel's cost reduction and new product launches, like new processors for AI. Read why I reiterate my bullish rating for INTC stock.

Intel's removal from the Dow doesn't really impact the business, but it will lead exchange-traded funds (ETFs) that track the Dow to sell the stock when the Dow makes the switch on Nov. 8. That's not as significant as being removed from the S&P 500 since not as many ETFs follow the Dow, but it still leads to greater supply and less demand.

Earn up to $845 cash back this year just by changing how you pay at Costco! Learn more here. *Stock prices used were the afternoon prices of Nov. 10, 2024. The video was published on Nov. 12, 2024. Before you buy stock in Intel,