New York City, New York – After spending the last 99 years on the Dow Jones Industrial Average, AT&T is finally getting booted from the list. Apple is now getting ready to take its place, as it continues to remain the largest corporation in the world. Apple’s stock value has finally helped it become a good fit, after some share splitting lowered its value into an acceptable range to be worthy of the Dow Jones Average list.
Apple To Become 1 Of The 30 Stocks That Makes Up Dow Industrial Average
Last year Apple decided to do a 7 to 1 stock split on its shares, cutting its trading price from around $700 per share down to around $100. This move gave every single share holder 7 times as many shares in the company, but allowed the stock prices to become even more competitive. Some of the reason for doing the split may have even been to become a better split for the Dow consideration.
Since last year’s split, Apple’s share prices have risen again by gaining about an extra 25% in value. This means that those who had the $700 shares before now own what would be equivalent to $875 per share. They probably would not have gained so much had their shares not split, since trading volume has increased on the stock market for Apple since then.
Being accepted into the Dow Jones Industrial Average is a huge achievement for any company. The list makes up the who’s who of the business world, and not every household business name can even be accepted. Once more, for AT&T to be ousted from the list after being on there for so long is a bit of a slap in the face for the telephone carrier. AT&T is still doing alright financially, but their stock performance no longer seemed to accurately reflect the strength of the market overall.
Apple To Become 1 Of The 30 Stocks That Makes Up Dow Industrial Average.