Alphabet to join the Dow, replacing Verizon

S&P Dow Jones Indices said Alphabet will join the Dow Jones Industrial Average before the market opens on June 29, 2026, replacing Verizon Communications in the 30-stock benchmark.

The move adds another major technology name to the Dow and removes its only telecom slot. Reporting on the change said the committee cited Alphabet’s larger market capitalization, higher share price and broader business mix as reasons for the swap.

Verizon’s lower share price has given it little influence in the price-weighted index, according to the reports. Alphabet and Verizon are both classified by S&P Dow Jones Indices as communications stocks.

Why it matters

The change pushes the Dow further toward large-cap technology and communications-services companies. Alphabet will join other big tech names already in the index, including Apple, Microsoft, Amazon and Nvidia.

For index-linked investors, the adjustment means rebalancing ahead of the effective date. The Dow is price-weighted, so changes in its membership can affect how much each constituent contributes to the average.

Timeline

The first reports on the change appeared on June 23, 2026, with follow-up coverage on June 24 confirming the effective date and the rationale for the swap. The index change is scheduled to take effect before trading begins on June 29.

The same index update also includes a separate S&P 500 change involving Honeywell Aerospace, while Honeywell International remains in the Dow after the spinoff.

What to watch next

Market reaction in Alphabet and Verizon could continue to develop ahead of June 29. Investors will also be watching for any additional notes from S&P Dow Jones Indices on the implementation.