Alphabet Replaces Verizon in the Dow Jones Industrial Average

Alphabet will replace Verizon in the Dow Jones Industrial Average, S&P Global said Tuesday. The Google parent's A shares, trading under the ticker GOOGL, will enter the 30-stock index before Monday's session. Shares rose about 1% in after-hours trading on the announcement.

The change adds to the megacap technology presence in the Dow. Alphabet joins Nvidia, Amazon, Apple and Microsoft in the blue-chip average. S&P Global said the inclusion would strengthen the index's weighting in AI and cloud infrastructure.

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

Investors have grown cautious in recent days. Monday marked Alphabet's worst session in more than a year. The stock underperformed the Nasdaq and other megacap tech names that day.

Before that selloff, Alphabet enjoyed a strong spring. Google posted its best month on Wall Street since 2004 after beating earnings expectations. The quarterly numbers were driven by a surge in cloud revenue.

Alphabet A shares are up more than 10% in 2026. That puts the stock on track for its fourth straight winning year and its seventh positive year in the last eight.

Verizon represented roughly half a percentage point of the Dow because of its low share price, S&P Global said. The Dow is price weighted. Honeywell International will stay in the Dow as Honeywell Technologies after its aerospace spin off, though the spun off company will not join the index, S&P Global said.

AlphaScala’s proprietary model scores Alphabet at 68 out of 100, a Moderate label. The stock was at $346.12, down 1.02% in Tuesday's regular session.