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Apple's first day on the Dow demonstrates power of tech industry
// Apple - Mashable
When Apple, the largest technology company in the United States, said it would be joining the Dow Jones Industrial Average, market observers asked themselves a single question: What took so long?
Techies can now rejoice. Apple's first day on the Dow is Thursday. The company joined after a torrid run, with its shares up 38% since its stock split last June. Before the 7-for-1 split, Apple was trading at almost $650 per share. It is now trading around $128 a share
The Dow index is a closely watched group of 30 stocks widely seen as an indicator for the health of U.S. markets. The most influential company on the Dow is Goldman Sachs, which accounts for more than 7% of the index's value. Despite its massive overall size, Apple's lower stock price due to the split means the company is only the fifth-most influential stock of the Dow's 30 companies. Read more...
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