Alphabet to Replace Verizon in DJIA on June 29, Reflecting $350 Share Price
Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29, 2026, reflecting its $350 share price and diversified AI, cloud and media operations. Wedbush’s Dan Ives compared Microsoft’s oversold status to last year’s negative Google narrative, citing GOOGL’s 138% rally since its AI strategy revamp.
1. Alphabet Replaces Verizon in DJIA
Alphabet will officially replace Verizon Communications in the Dow Jones Industrial Average before trading opens on June 29, 2026, marking the first component change since Nvidia and Sherwin-Williams joined in November 2024. This move brings Alphabet into the 30-stock benchmark and positions it alongside peers like Apple and Microsoft.
2. Rationale Based on Share Price and Operations
The index assigns weight to components by nominal share price, and Alphabet’s roughly $350 stock level vastly outweighs Verizon’s near $47 price, where Verizon’s weighting had hovered around 0.5%. Alphabet’s broad footprint across advertising, cloud infrastructure, artificial intelligence, hardware and media distribution made it a stronger sector representative.
3. Dan Ives Highlights Narrative Parallels
Wedbush’s Global Head of Tech Research Dan Ives likened Microsoft’s current oversold status to last year’s negative sentiment on Google, noting that GOOGL shares have climbed 138% since the company revamped its AI strategy under new leadership in April 2025. He suggested that market skepticism can reverse sharply once execution improves.
