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Dow Jones shoving AT&T off industrial average, replacing with Apple
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MacNN Staff
Join Date: Jul 2012
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Apple stock is going to supplant AT&T's on the Dow Jones Industrial Average. After market close on March 18, Apple will be listed on the average, with the low-performing AT&T being pulled. The move was precipitated by a Visa four-to-one stock split, effective on the same date. Apple's seven-to-one split last summer brought the stock price down closer to the median price in the DJIA.
David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices said of the shift that the DJIA "is price weighted, so extremely high stock prices tend to distort the index, while very low stock prices have little impact. The Visa split will reduce the technology weight in the DJIA, and make room for Apple. Among the current DJIA constituents, AT&T has one of the lowest prices."
The news is not expected to greatly affect the stock prices of Apple or AT&T.
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Last edited by NewsPoster; Mar 16, 2015 at 01:38 AM.
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Senior User
Join Date: Sep 2001
Location: in front of my computer
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"The news is not expected to greatly affect the stock prices of Apple or AT&T." Hmmm... AAPL up 2% so far this morning... maybe it did affect the price!
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Managing Editor
Join Date: Jul 2012
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Two percent is normal deviation, and easily attributable to glowing Apple Watch media reports.
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Junior Member
Join Date: Jan 2004
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A 2% move in one day is attributable to nothing, in my opinion.
You can not focus on the short-term.. you need to step back and look at a stock's performance over time, compared to the competition, overall economic landscape, and decisions coming out of the company. For example, I think one could reasonably say that the recent AAPL slump was attributable to Apple being too slow to go to a larger screen size with the iPhone*, thereby losing lots of ground to Android... well, finally they came to their senses with iPhone 6, and what do you know? AAPL is back in the direction it belongs, for such a profitable company, it's stock is so undervalued, and is still a great buy.
* I really hate to give credit to him, but Donald Trump was right!!!
http://www.cultofmac.com/225542/donald-trump-apple-should-increase-iphones-screen-size-or-lose-a-lot-of-business/
Prophetic, no. Pretty effin' obvious. One hand whatever.
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