Alphabet (GOOGL) Stock Joins the Dow Jones Industrial Average, Replacing Verizon

TLDR

• Alphabet’s Class A stock (GOOGL) will replace Verizon in the Dow Jones Industrial Average on June 29, 2026
• GOOGL rose roughly 1% after hours following the announcement on Tuesday
• Alphabet joins Nvidia, Amazon, Apple and Microsoft as mega-cap tech in the Dow
• GOOGL is currently in correction territory, down 10% from recent highs
• Wall Street analysts rate GOOGL a Strong Buy with an average price target of $427.38

Alphabet has been spending big on AI — $141 billion raised in debt and equity since October — and now it’s got a new badge to show for it. S&P Global announced Tuesday that the Google parent will replace Verizon in the 30-stock Dow Jones Industrial Average, effective before the open on Monday, June 29, 2026.

Alphabet Inc., GOOGL

GOOGL stock edged up around 1% after hours following the news.

The move makes Alphabet the latest mega-cap tech name to land in the Dow, joining Apple, Microsoft, Amazon and Nvidia. S&P Dow Jones Indices said Alphabet’s addition would strengthen the index’s exposure to advertising, cloud infrastructure and artificial intelligence.

Verizon held a tiny slice of the price-weighted index — just around half a percentage point — due to its relatively low share price. Alphabet, with its much higher share price, will carry far more weight.

Why the Timing Is Complicated

The announcement comes at a rough patch for GOOGL. The stock closed Monday at its worst single-day drop in over a year, underperforming the broader tech sector. Reports that top AI executives are leaving the company rattled investors.

GOOGL is currently down about 10% from its recent highs, putting it technically in correction territory. That’s a notable backdrop for what should be a celebratory moment.

Index funds and ETFs tracking the Dow will now need to buy GOOGL, which could provide some mechanical support to the stock. That’s not nothing when sentiment is already shaky.

Still, the bigger picture for Alphabet hasn’t changed much. The company came off a strong spring, posting its best month on Wall Street since 2004 after reporting better-than-expected earnings driven by cloud revenue growth.

GOOGL is up more than 10% in 2026 and is on pace for its fourth straight positive year.

What the Analysts Say

Wall Street hasn’t turned cold on the stock. Out of 33 analysts tracked over the past three months, 28 have a Buy rating on GOOGL and five have a Hold. There are no Sell ratings.

The average price target sits at $427.38, which implies over 23% upside from current levels.

GOOGL last traded at $346.13 at the close on Tuesday, with an after-hours price of $348.30.

Honeywell will also stay in the Dow under its new name, Honeywell Technologies, following the spin-off of Honeywell Aerospace. The spun-off entity will not be part of the index.

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