Dow Jones: Goodbye AT&T, Hello Apple!

Dow Jones: Goodbye AT&T, Hello Apple!Ahead of the weekend, news broke that a major shake-up is coming to the Dow Jones Industrial Average later this month.

Apple will officially join the Dow Jones industrial average, replacing AT&T Inc, which has been a part of the 30-stock index for nearly 100 years.

The decision to nudge aside AT&T, which has been part of the Dow for the better part of a century, is a recognition of how communications and technology have evolved. It’s also a marker of Apple’s transformation, from a struggling company with a small, fervent following two decades ago, into the nation’s predominant consumer tech company.

“This is a sign of the times, and it might get everyone to look at the Dow more than they have been,” Richard Sichel, chief investment officer at Philadelphia Trust Co., tells Reuters. “It would be difficult to pick any 30 companies that would cover the entire economy, especially compared with the S&P 500, but it does give the Dow more credibility.”

Apple will officially trade on the blue-chip stock index beginning March 19th.