Intel (NASDAQ: INTC) stock has been up over 12% recently, and the outcome of the U.S. presidential election could help it gain market share. Read More: Earn up to $845 cash back this year just by changing how you pay at Costco!

INTC shares unexpectedly rallied by 3.90% — signaling that the processor giant’s fortunes could be starting to change.

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.

Intel stock is gaining ground today as investors are becoming more confident that the company is on track to receive the $19.5 billion in federal funding it's slated to receive through the CHIPS Act.

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,