This AI Stock Just Joined the Dow Jones. It's Up 300% Since 2023 and History Says This Will Happen Next.
Alphabet joined the Dow Jones Industrial Average in late June.
Overview
Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) shares have added more than 300% since the artificial intelligence (AI) boom began in earnest in January 2023. While investors initially feared AI would disrupt the company's dominance in internet search, Alphabet has successfully integrated the technology into its advertising and cloud products.
On June 29, Alphabet was added to the Dow Jones Industrial Average (DJINDICES: ^DJI), where it replaced Verizon Communications. Alphabet is the only the 16th stock to join the index in the last 15 years, and history says this will happen next.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.