Giant US technology, Apple, will go in row stock elite in the stock index of blue-chip Dow Jones Industrial Index (DJIA) soon this month, by acquiring a technology company AT & T in the index, the general index S & P Dow Jones was quoted as saying by AFP.
The advent of the iPhone and iPad manufacturer to the elite ranks of the world's top 30 companies stocks occurred after Apple has been named the world's largest companies in terms of market capitalization, with now assessed more than 730 billion US dollars.
Stocks index change blue-chip will be effective on March 19.
S & P Dow Jones said Apple's decision to shift into this prestigious index is to ensure appropriate representation for the information technology sector.
"As the largest company in the world and a leader in technology, Apple is a definite option for the Dow Jones Industrial Average, the most recognized measure of the stock market," said David Blitzer, managing director of the index committee at S & P Dow Jones Indices.
S & P Dow Jones Indices expel AT & T after it emerged the conclusion that Dow too crowded telecom sector, says Blitzer. Telecommunications itself is now represented Verizon.
The advent of Apple comes just days after the Nasdaq index in which Apple became the main stock, which is the record of 5,000 points for the first time in 15 years.
Apple is expected to launch Apple Watch Monday next week at an event in San
Francisco.
Meanwhile in early trading in New York, Apple's stock price rose 1 percent to 127.62 dollars, while AT & T shares fell 1 percent to 33.65 US dollars per share, according to AFP. (rtr)
The advent of the iPhone and iPad manufacturer to the elite ranks of the world's top 30 companies stocks occurred after Apple has been named the world's largest companies in terms of market capitalization, with now assessed more than 730 billion US dollars.
Stocks index change blue-chip will be effective on March 19.
S & P Dow Jones said Apple's decision to shift into this prestigious index is to ensure appropriate representation for the information technology sector.
"As the largest company in the world and a leader in technology, Apple is a definite option for the Dow Jones Industrial Average, the most recognized measure of the stock market," said David Blitzer, managing director of the index committee at S & P Dow Jones Indices.
S & P Dow Jones Indices expel AT & T after it emerged the conclusion that Dow too crowded telecom sector, says Blitzer. Telecommunications itself is now represented Verizon.
The advent of Apple comes just days after the Nasdaq index in which Apple became the main stock, which is the record of 5,000 points for the first time in 15 years.
Apple is expected to launch Apple Watch Monday next week at an event in San
Francisco.
Meanwhile in early trading in New York, Apple's stock price rose 1 percent to 127.62 dollars, while AT & T shares fell 1 percent to 33.65 US dollars per share, according to AFP. (rtr)
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