Apple Inc.'s stock is falling less than General Electric Co.'s stock is rising, but the negative effect it's having on the Dow Jones Industrial Average is three-times worse than the positive effect GE's stock is having. Apple shares are shedding $3.12, or 2.1%, in premarket trade Monday after a downgrade at Mizuho, which would shave about 21 points off the price of the Dow. Meanwhile, GE's stock rallied $1.03, or 3.7%, ahead of the open, after announcing CEO Jeffrey Immelt was retiring, but that would only add about 7 points to the Dow's price. The Dow is price-weighted index, and since GE's stock is the lowest priced among its components, it has the least influence on the Dow's price. Apple's stock is the 8th-highest price.
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