Alphabet Joins Dow Jones Industrial Average, Taking Verizon’s Place

Signage at Google headquarters in Mountain View, California, was photographed on Thursday, October 23, 2025.

Benjamin Fanjoy | Bloomberg | Getty Images

Alphabet will replace Verizon in the Dow Jones Industrial Average, as announced by S&P Global on Tuesday, further expanding the presence of mega‑cap technology within the blue‑chip index.

S&P Global said that Alphabet’s Class A shares (ticker GOOGL) will assume the Dow’s 30‑stock position beginning with Monday’s trading session. Following the announcement, the stock rose about 1% in after‑hours trading.

The California‑based company will join other mega‑cap technology peers—Nvidia, Amazon, Apple, and Microsoft—in the blue‑chip index. S&P Global noted that Alphabet’s inclusion will heighten the Dow’s exposure to themes such as artificial intelligence, cloud infrastructure, and advertising.

Alphabet has been spending heavily on AI, including raising $141 billion in debt and equity since October. The company has been trying to prove that its vertically integrated AI stack can generate returns.

But investors have grown weary recently, with Alphabet on Monday closing its worst day on the stock market in more than a year. The stock underperformed both the Nasdaq and the other tech mega-caps in the session.

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Google A shares, 1-year

Before the Alphabet selloff, the company came off highs from the spring time, when Google had its best month on Wall Street since 2004. That came after Alphabet reported better-than-expected results, driven by soaring cloud revenue.

Despite recent volatility, Alphabet’s A shares are up more than 10% in 2026. The stock is on track for its fourth straight winning year and seventh positive year of the last eight.

Verizon had represented just around one-half of a percentage point in the index because of its low share price, S&P Global said. The Dow is a price-weighted index, meaning that each member stock is weighted based on its share price. As a result, a company with a higher price per share will have more sway over the index.

Honeywell International will remain in the Dow under its new name, Honeywell Technologies, following the completion of its spin off of Honeywell Aerospace, S&P Global said. But the spun-off company would not be in the index, according to the firm.

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Image showing Google headquarters signage in Mountain View, California, taken Thursday, October 23, 2025. Photographer: Benjamin Fanjoy | Bloomberg | Getty Images

Alphabet will replace Verizon in the Dow Jones Industrial Average, as announced by S&P Global on Tuesday, expanding the tech giant’s presence in the blue-chip index.

The parent company of Google will take Verizon’s place in the 30-stock Dow Jones Industrial Average ahead of Monday’s trading, with its Class A shares (ticker GOOGL) assuming the position. Alphabet’s shares rose approximately 1% in after-hours trading following the announcement.

The company’s shares have gained more than 10% year-to-date in 2026, marking the fourth consecutive year of positive returns and the seventh positive year in the past eight. Prior to Monday’s decline, shares had reached spring highs following stronger-than-expected earnings driven by cloud revenue growth.

Alphabet has invested heavily in artificial intelligence, raising $141 billion in debt and equity since October, as it works to demonstrate returns from its vertically integrated AI infrastructure.

Despite recent volatility, Alphabet’s shares have outperformed both the Nasdaq and other technology giants in recent market sessions, though the stock experienced its worst single-day decline in over a year on Monday.

As a price-weighted index, the Dow’s composition is determined by share price rather than market capitalization, meaning higher-priced stocks exert greater influence on the index’s overall movement. Verizon’s low share price had previously limited its impact on the index to approximately half a percentage point.

Honeywell International will remain in the Dow under its new name, Honeywell Technologies, following its separation from Honeywell Aerospace, though the newly independent entity will not be added to the index.

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