Effective next week, Google’s parent company, Alphabet, is being added to the Dow Jones stock index.
Starting on June 29, Alphabet ($GOOGL) will replace Verizon ($VZ) as a part of the Dow Jones Industrial Average stock index. It’s the first replacement in the Dow Jones since 2024, when Nvidia ($NVDA) and Sherwin-Williams ($SHW) replaced Dow ($DOW) and Intel ($INTC).
S&P Global announced the change earlier today, explaining that the addition exposes the Dow Jones index to “dynamic areas of the US economy” such as AI, advertising, and cloud infrastructure.
Alphabet’s diversified technology and digital services portfolio spans advertising, cloud infrastructure, artificial intelligence, hardware, autonomous mobility, healthcare technology, and media distribution. Adding Alphabet will broaden and strengthen the DJIA’s exposure to these dynamic areas of the U.S. economy. Its larger market capitalization and share price, together with the breadth of its businesses, make it a more representative Communication Services constituent in the DJIA.
Nvidia, as mentioned, is already a part of Dow Jones, as are other major tech companies such as Microsoft, Apple, and Amazon.
CNBC notes that $GOOGL is up over 10% in 2026, though it has been volatile recently following some high-profile talent departures, while also pointing out that Verizon, the stock Alphabet is replacing, made up just 0.5% of the index due to a low share price, as the index is price-weighted. $GOOGL shares trade at about 7x~ the value of $VZ.
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