Alphabet to join the Dow Jones Industrial Average, replacing Verizon from June 29

S&P Dow Jones Indices announced that Alphabet will join the Dow Jones Industrial Average in place of Verizon, effective before the open on June 29, 2026. Verizon's low share price gave it little weight in the price-weighted index, while Alphabet's size fits the Communication Services sector better. Index funds tracking the Dow must buy Alphabet and sell Verizon, which makes the inclusion a flow event for GOOGL.

• Alphabet replaces Verizon; effective before the open on Monday, June 29, 2026
• Verizon was about one-half of one percentage point of the index
• Reason given: index representation of dynamic sectors such as AI and cloud, and better fit for Communication Services