Alphabet joins the Dow Jones Industrial Average, replacing Verizon

Alphabet will replace Verizon in the Dow Jones Industrial Average before the opening bell on Monday, June 29, 2026, giving the 30-stock benchmark another large-cap technology name and removing one of its steadier telecom holdovers. S&P Dow Jones Indices will adjust the index divisor to prevent distortion in the price-weighted average. Alphabet shares rose about 1% after hours when the change was announced.

Honeywell International will stay in the Dow after spinning off Honeywell Aerospace. The parent company will keep its place in the index under the new name Honeywell Technologies, while Honeywell Aerospace will not be included.

Alphabet is a more representative communication services constituent for S&P Dow Jones Indices because of its larger market capitalization, higher share price and broader business mix. Verizon, by contrast, carried only about one-half of one percentage point of the price-weighted index because its lower share price gave it little day-to-day influence. The swap also broadens the Dow’s exposure to artificial intelligence, cloud infrastructure and advertising, all areas where Alphabet has been spending heavily.

The move adds Alphabet to a Dow roster that already includes Nvidia, Amazon, Apple and Microsoft. The index was created in 1896 by Charles Dow and Edward Jones with 12 stocks, expanded to 30 in 1928, and has been adjusted many times since then to reflect changing corporate America. S&P Dow Jones Indices last made a change in November 2024, when Nvidia and Sherwin-Williams joined the Dow and Intel and Dow Inc. were removed.

CNBC put Alphabet’s debt and equity raised since October at $141 billion to support its buildout. Alphabet posted its worst trading day in more than a year on Monday. Alphabet’s A shares have climbed more than 10% in 2026 and are on track for a fourth straight annual gain and a seventh positive year in the past eight.