- Alphabet will replace Verizon in the Dow Jones Industrial Average.
- Honeywell would remain in the Dow following the completion of its spin off of Honeywell Aerospace.
- The California-based company will join megacap tech peers Nvidia, Amazon, Apple and Microsoft in the blue-chip index
S&P Global said the
The California-based company will
join megacap tech peers Nvidia, Amazon, Apple and Microsoft in the blue-chip index. S&P Global said Alphabet's inclusion would bolster the Dow's exposure to themes like artificial intelligence, cloud infrastructure and advertising.
Alphabet has been
spending heavily on AI, including raising $141 billion in debt and equity since October. The company has been trying to prove that its vertically integrated AI stack can generate returns.
But investors have grown weary recently, with Alphabet closing its
worst day on the stock market Monday in more than a year. The stock underperformed both the Nasdaq and the other tech megacaps in the session.
Before the Alphabet selloff, the company
came off highs from the spring time, when Google had its best month on Wall Street since 2004. That came after Alphabet reported better-than-expected results, driven by soaring cloud revenue.
Despite recent volatility, Alphabet's A shares are up more than 10% in 2026. The stock is on track for its fourth straight winning year and seventh positive year of the last eight.
Verizon had represented just around one-half of a percentage point in the index because of its low share price, S&P Global said. The Dow is a price-weighted index, meaning that each member stock is weighted based on its share price. As a result, a company with a higher price per share will have more sway over the index.
Honeywell International will remain in the Dow under its new name Honeywell Technologies following the completion of its spin off of Honeywell Aerospace, S&P Global said. But the spun-off company would not be in the index, according to the firm.<small>Source: CNBC</small>
Business
Alphabet added to Dow Jones Industrial Average, replacing Verizon
CNBC
June 23, 2026
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