Micah Singleton for The Verge:
Apple has been invited to join the Dow Jones Industrial Average, one of the most exclusive stock indexes in the world, according to The Wall Street Journal. AT&T is being removed from the Dow Jones to make space for Apple. The change will take place after the market closes on March 18th.
Getting invited into the 119-year-old Dow Jones Industrial Average is the latest accomplishment for the world’s most valuable company. Unlike the S&P 500 or the NASDAQ — where Apple currently sits — the Dow Jones Industrial Average only accepts 30 members at any given time. The Dow Jones Industrial Average doesn’t have a strong representation of modern tech companies, with Intel and Microsoft — who joined in 1999 — being the two most prominent members of the index.
Although I’m surprised to see AT&T go (they seem to have a slightly more promising future than Verizon right now), it makes a lot of sense that Apple is being added, even if it is long overdue.