Some might say there would be irony in Apple bumping Cisco or Intel, viewed as old guard tech stocks, from the Dow. However, it is worth noting the Dow’s old school tech lineup, which also includes IBM (NYSE: IBM) and Microsoft (NasdaqGS: MSFT), has outperformed Apple this year. [Cisco Lifting These ETFs]
The last tech stock booted from the Dow was Hewlett-Packard (NYSE: HPQ) and the stock has surged almost 44% since its Dow departure in September 2013.
SPDR Dow Jones Industrial Average ETF
Tom Lydon’s clients own shares of Apple, Cisco, Intel and Microsoft.