Apple's Stock Falls Behind AT&T Since Dow Changes Announced

The curse of new Dow Jones Industrial Average components may be taking a bite out of Apple Inc.'s shares , as they have fallen behind AT&T since it was announced that the technology giant will replace the telecom company within the blue-chip index . Apple's stock dropped 1.8% on Wednesday to close at a one-month low. It has now lost 3.4% since Friday, the day S&P S&P Dow Jones Indices said Apple would join the Dow after the March 18 close. Meanwhile, AT&T's stock has lost just 2.6% this week. The last three stocks to be booted from the Dow have outperformed their respective replacements since those changes went into effect. Separately, Apple's stock now suffered the biggest two-session drop--3.9%--since it fell 4.6% in the two days ending Sept. 25, when reports of bending iPhones made the rounds.