S&P Dow Jones Indices will add Alphabet (GOOGL) to the Dow Jones Industrial Average (DJIA). Alphabet replaces Verizon (VZ) in the index. The change becomes effective before the market opens on Monday, June 29.
Alphabet provides the price-weighted index with greater exposure to digital advertising, search, and cloud computing. Verizon’s removal reflects its lower share price and diminished influence within the average.
This transition underscores a major trend within the Communication Services sector. Market leadership is shifting from legacy telecommunications to internet and media conglomerates.