Apple joining the Dow seen as warning sign by some

By | March 6, 2015

Scalper1 News

Apple (AAPL) stock rose Friday on news that the Cupertino, Calif.-based consumer electronics leader will join the Dow Jones Industrial Average later this month. Apple will replace telecom company AT&T (T) on the 119-year-old blue-chip stock index at the close of trading March 18. AT&T has been part of the Dow Jones Industrial Average since October 1916. The much-followed index has just 30 companies. Since the Dow is weighted by price rather than market cap, Apple’s 7-for-1 stock split in June 2014 made the change possible. Apple stock was up 1% in late-morning trading on the stock market today. Some, however, see Apple’s addition to the Dow a warning flag. The Dow selection committee has a history of adding companies that are past their prime. Intel (INTC) and Microsoft (MSFT), for example, joined the index in November 1999 and have been laggards since then…. Scalper1 News

Scalper1 News