Alphabet Inc. will replace Verizon Communications in the Dow Jones Industrial Average, marking another significant shift in the composition of the iconic benchmark.
S&P Global announced the change on Tuesday, confirming that the swap will take effect at the opening bell on Monday, July 6.
The move further expands the presence of megacap technology stocks in the price-weighted index.
By adding Alphabet and removing Verizon, the index continues its evolution away from traditional industrial and telecommunications sectors toward dominant digital platforms.
This structural change increases the weight of high-growth tech equities relative to slower-growing legacy sectors within the Dow.
For investors tracking the Dow, the substitution alters the index's sensitivity to technology sector performance.