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March 6, 2015

Apple to finally join Dow

By CNNMoney

Apple, the most valuable company on the planet, is finally getting the recognition it deserves from the people that run the world's most well-known stock market index. Apple will join the Dow Jones Industrial Average later this month.

Apple will replace AT&T in the Dow -- an exclusive club of 30 stocks that also includes tech giants Microsoft, Intel and Cisco as well as brand-name consumer firms Walmart, Coca-Cola and Disney.

"As the largest corporation in the world and a leader in technology. Apple is the clear choice for the Dow Jones Industrial Average," said David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices.

Apple will enter the Dow at the close of trading on March 18. The company, maker of the enormously popular iPhone, is set to hold an event next Monday in which it is widely expected to give more details about its new Apple Watch.

Shares of Apple were up more than 1% in premarket trading following the Dow news. The company is now worth nearly $740 billion and some analysts think that it could reach the $1 trillion level at some point in the next few years.

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