New York, Mar 6 (EFE).- U.S. tech giant Apple will replace telecom titan AT&T in the Dow Jones Industrial Average, the company that compiles that stock market index said Friday.

 

Apple’s inclusion in the select club of the 30 leading companies traded on the New York Stock Exchange and the Nasdaq, an index that was created in 1896 but which has undergone numerous changes since then, will occur after the close of trading on March 18.

 

S&P Dow Jones Indices, a joint venture of McGraw Hill Financial, the CME Group, and News Corp, confirmed the information in a press release.

 

The DJIA is one of the most closely watched U.S. benchmark indices, although many Wall Street professionals prefer the S&P 500 because it includes a broader range of companies.

 

Apple is the world’s largest company with a market capitalization of roughly $746 billion on Friday, double that of Microsoft

and other market giants such as Exxon Mobil.

 

Shares in Apple, whose market cap climbed to a record $775 billion last month, trade on the Nasdaq, which is home to numerous technology companies.

 

“Apple is the clear choice for the Dow Jones Industrial Average, the most recognized stock market measure,” David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, was quoted as saying in the release. EFE