Apple’s stock will be listed on the Dow Jones Industrial Average (DJIA) beginning this month, bumping U.S. carrier AT&T from the list, reports the WSJ. The move has been discussed and anticipated for a while now, and results from a trend begun with the addition of other tech giants including Microsoft and Intel back at the turn of the millennium.
Apple will join the DJIA, also known as the Dow 30, at the end of trading on March 18. The addition reflects Apple’s longtime dominance in the tech sector, as well as a coming split for credit card giant Visa’s stock, which would affect the way the DJIA price-weights among its 30 member companies. Apple’s high stock prices will help counter the reduction coming from the Visa split.
It’s been a long time coming, but Apple’s recent performance in its quarterly earnings has helped push its stock value and market capitalization even higher, with a lot of analysts even making the argument that compared to other companies in its sector, its stock price is still actually undervalued.