Dow Jones News: Intel Faces Amazon Threat; Dow Inc. Downgraded
The Dow Jones Industrial Average (DJINDICES: ^DJI) tumbled on Tuesday after President Donald Trump suggested that a trade deal between the U.S. and China may not be signed until after the election next year . The Dow was down 1% at 3:35 p.m. EST.
Both Intel (NASDAQ: INTC) and Dow Inc. (NYSE: DOW) badly lagged the market. Intel was down after Amazon (NASDAQ: AMZN) announced a new server chip, and Dow sank following an analyst downgrade.
Intel's main growth engine over the past few years has been its data center business, specifically the high-powered chips being sold to cloud computing companies. As demand for cloud infrastructure has exploded, so has demand for the chips that crunch the numbers in the background.
Source Fool.com
