Alphabet added to Dow Jones Industrial Average, replacing Verizon
Alphabet's Class A shares will replace Verizon in the 30-stock index, reflecting the tech giant's dominance in search and cloud services.
- On June 29, Alphabet will join the Dow Jones Industrial Average, replacing Verizon Communications and becoming the sixth most influential component at $346.13 per share.
- S&P Dow Jones Indices selected Alphabet because Verizon's $46.73 share price limited its influence on the price-weighted index, while the company's shares gained only 39.5% since April 8, 2004.
- Google accounts for approximately 90% of global internet search traffic, affording Alphabet significant pricing power; the company's cloud infrastructure segment has reaccelerated sales growth following generative artificial intelligence integration.
- Alphabet's inclusion broadens exposure to dynamic sectors including artificial intelligence and media distribution, according to S&P Dow Jones Indices; this adjustment marks another evolution for the Dow, which has undergone more than 50 changes.
- Since its inception on May 26, 1896, the Dow has evolved from a 12-stock, industrial-focused index into a 30-company benchmark; this move adds Alphabet to trillion-dollar peers like Amazon and Nvidia.
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The Dow Jones Tech Average
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