Data News > Pre Market Movers: Walgreens and Intel Lead Stock Declines in the S&P 500 in 2024

Pre Market Movers: Walgreens and Intel Lead Stock Declines in the S&P 500 in 2024

By KlickAnalytics Data Insights  |   December 31, 2024 09:29AM ET

Key Points

- Intel experienced its worst year ever with a 60% drop in stock value in 2024
- Broadcom had a record gain in stock price, more than doubling throughout the year
- 98 stocks in the S&P 500 showed double-digit declines in 2024
- Silicon Valley witnessed Intel's downfall and Broadcom's success in the stock market
- Intel's decline serves as a cautionary tale for companies like Boeing with technically minded leaders

Walgreens and Intel stood out among the stocks in the S&P 500 that experienced significant declines in 2024, a year that was largely positive for the broader U.S. stock market. Intel, a Silicon Valley giant, saw its stock value plummet by 60% throughout the year, marking its worst performance in the 53 years since becoming a public company. In contrast, Broadcom enjoyed a record gain in its stock price, more than doubling and achieving its best month ever in December following a successful earnings report.

The contrasting fortunes of Intel and Broadcom highlighted a shift in Silicon Valley's landscape in 2024. While Intel struggled with its market performance, Broadcom thrived, showcasing the volatility and competitiveness of the tech industry. Intel's drastic decline serves as a cautionary tale for other companies, such as Boeing, that have technically minded leaders like Pat Gelsinger and Kelly Ortberg tasked with navigating challenging times.

As Intel grappled with its significant stock decline, the company's struggles drew parallels to Boeing's own challenges. Both companies had technically minded leaders at the helm who were tasked with reviving their respective companies in the face of financial difficulties. The comparison between Intel's Pat Gelsinger and Boeing's Kelly Ortberg serves as a reminder that even the most capable leaders may struggle to reverse the fortunes of a company damaged by financial mismanagement.

Overall, 2024 brought a mix of success and setbacks for stocks in the S&P 500, with 98 companies experiencing double-digit declines. Intel's dramatic drop in stock value and Broadcom's impressive gain underscored the unpredictable nature of the stock market. As companies like Intel and Boeing navigate the complexities of the market, they serve as examples of the challenges and opportunities that arise in the ever-changing world of stock trading.

About INTC
Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products. The company also provides high-performance compute solutions for targeted verticals and embedded applications for retail, industrial, and healthcare markets; and solutions for assisted and autonomous driving comprising compute platforms, computer vision and machine learning-based sensing, mapping and localization, driving policy, and active sensors. In addition, it offers workload-optimized platforms and related products for cloud service providers, enterprise and government, and communications service providers. The company serves original equipment manufacturers, original design manufacturers, and cloud service providers. Intel Corporation has a strategic partnership with MILA to develop and apply advances in artificial intelligence methods for enhancing the search in the space of drugs. The company was incorporated in 1968 and is headquartered in Santa Clara, California.

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