Apple’s Split to End Dominion of Dow Average’s Biggest Stock
- Company would rank No. 16 should the 4-1 split happen now
- More than $30 billion of assets are linked to Dow Average
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Apple Inc.’s planned stock split will diminish its influence on the Dow Jones Industrial Average after the iPhone maker’s 100% surge since March lows nearly dragged the price-weighted measure back to an all-time high.
At its current price of $452 a share, Apple has the biggest weighting in the index at 11%. A 4-to-1 split now would drop its price tag to about $113 and send its ranking in the Dow Average down to 16th. Apple has rallied almost 55% in 2020, adding more than 1,100 points to a stock measure that’s fallen about 2% during that time. The split is scheduled to take effect Aug. 31.