World Economy

Apple to Join Dow Jones Index

Apple to Join Dow Jones IndexApple to Join Dow Jones Index

Apple is set to join the Dow Jones Industrial Average, replacing telecom major AT&T that has been a component of the stock index since 1916, NewsNow reported. Apple, which is the biggest US company by market value, will join the index on March 19. This is the first change in the 30-member index since September 2013, when Goldman Sachs, Nike and Visa replaced Alcoa, Bank of America and Hewlett Packard. Apple’s inclusion in the index comes after Visa’s 4-for-1 stock split, announced in late January, which would reduce the weighting of the Dow’s information technology sector. The addition of Apple will help offset that effect.