Get the latest tech news How to check Is Temu legit? How to delete trackers
TECH
Apple Inc

First take: Apple in Dow. What took so long?

Edward C. Baig
USA TODAY
Apple Watch is modeled during a media event in Cupertino, Calif.

NEW YORK — The timing couldn't be more symbolic: Apple is poised to take its standing among the 30 prominent stocks that make up the Dow Jones industrial average just as it's about to foist the Apple Watch on the masses.

I'm no stock analyst, but I do know tech, and I watch for signals out of Cupertino on a nearly daily basis. I'm not alone in that regard — legions of people make a sport of it.

As part of the Dow or not, Apple has been a bellwether on the market, on its competitors, and on popular culture, the cumulative effect of which turned the tech giant into the most valuable company in the world, with a market cap of around $736 billion.

I know that part of the rationale for making this move now was Apple's own 7 for 1 stock split last June and Visa's 4 for 1 split back in March. Apple's steep price (north of $645 before the split) made it impossible because the Dow average, unlike the S&P 500 and Nasdaq Composite, is price weighted, meaning companies with higher share prices have a greater impact on the movement of the index.

Even at that, I'm still asking: What the heck took so long?

It strikes me as a no-brainer that the gang behind the Mac, iTunes, iPod, iPhone, iPad and yes, Apple retail too, merits inclusion in what remains the most exclusive of clubs.

And now we have the Apple Watch. I'm by no means predicting that Apple's new wearable will command the kind of runaway success that Apple has had with many of the aforementioned products, though I wouldn't bet against a fruitful launch, either. Lots of people think the watch will be the catalyst for the entire wearable category, just as Apple Pay is making an impact on the still-burgeoning field of mobile payments.

What I can predict with near certainty is that everyone will be paying attention Monday when Apple is expected to spill further details on the watch's features and availability. And isn't that the point. All eyes have always been on these guys.

It's equally noteworthy and a little bit ironic that the company losing its place in the inner sanctum of the Dow is none other than AT&T, Apple's original carrier partner on the first iPhone. The former American Telephone & Telegraph joined the Dow nearly a full century ago.

Apple' stock was up about 1.95% in early trading Monday. AT&T was down 1.4%.

Email: ebaig@usatoday.com; Follow @edbaig on Twitter

Featured Weekly Ad