Signage at Google headquarters in Mountain View, California, US, on Thursday, Oct. 23, 2025.
Benjamin Fanjoy | Bloomberg | Getty Images
Alphabet will replace Verizon in the Dow Jones Industrial Average, S&P Global said Tuesday, further expanding mega-cap technology’s presence in the blue-chip average.
S&P Global said the Google parent’s A shares — which trade under the ticker GOOGL — would take the spot in the 30-stock index ahead of the start of Monday’s trading. Shares of the online search giant rose about 1% after the bell on Tuesday following the announcement.
The California-based company will join mega-cap tech peers Nvidia, Amazon, Apple and Microsoft in the blue-chip index. S&P Global said Alphabet’s inclusion would bolster the Dow’s exposure to themes like artificial intelligence, cloud infrastructure and advertising.
Alphabet has been spending heavily on AI, including raising $141 billion in debt and equity since October. The company has been trying to prove that its vertically integrated AI stack can generate returns.
But investors have grown weary recently, with Alphabet on Monday closing its worst day on the stock market in more than a year. The stock underperformed both the Nasdaq and the other tech mega-caps in the session.
Google A shares, 1-year
Before the Alphabet selloff, the company came off highs from the spring time, when Google had its best month on Wall Street since 2004. That came after Alphabet reported better-than-expected results, driven by soaring cloud revenue.
Despite recent volatility, Alphabet’s A shares are up more than 10% in 2026. The stock is on track for its fourth straight winning year and seventh positive year of the last eight.
Verizon had represented just around one-half of a percentage point in the index because of its low share price, S&P Global said. The Dow is a price-weighted index, meaning that each member stock is weighted based on its share price. As a result, a company with a higher price per share will have more sway over the index.
Honeywell International will remain in the Dow under its new name, Honeywell Technologies, following the completion of its spin off of Honeywell Aerospace, S&P Global said. But the spun-off company would not be in the index, according to the firm.
