Alphabet replaced Verizon in the Dow Jones Industrial Average before the June 29 open, ending Verizon’s 22-year run in the 30-stock index, according to S&P Dow Jones Indices. The swap reflects the Dow’s price-weighted structure, where Verizon at around $45 a share carried just 0.5% of the index’s weight, while Alphabet at around $350 carries roughly eight times more influence. S&P cited Alphabet’s spread across advertising, cloud, AI, hardware, autonomous vehicles, and health tech as justification. The change makes six of the Dow’s 30 components mega-cap technology companies, alongside Apple, Microsoft, Amazon, Nvidia, and Salesforce, the most in the index’s 130-year history.
