Three years ago, when GM and Citigroup got the ax, the group snubbed Apple and chose Cisco Systems, which makes computer networking equipment, and Travelers Companies, the insurance provider.
Travelers has risen by about half since it was added to the Dow, but Cisco has moved slightly lower. In the hypothetical example provided by Bespoke, Apple would have replaced Cisco in 2009.
There's some history behind the idea of having the most valuable company be part of the Dow. Exxon Mobil, which held the title until Apple wrested it in January, is a Dow member. Ten years ago, two Dow components, Microsoft and GE, jockeyed for the honor.
But Prestbo brushes off the what-if questions about Apple. Would the Dow be higher? Sure, he says. "But it also wouldn't be tracking the market."
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