Just for fun, where would the Dow Jones Industrial Average be, if Apple Inc. had replaced AT&T Inc. the day Apple's 7-for-1 stock split went into effect on June 9, 2014? Surprisingly, it wouldn't have made that much of a difference, even though Apple's stock has soared 37% while AT&T's stock has lost 4.5%. Using the current divisor for the price-weighted index , which would certainly have been changed if the swap was actually made, Apple would have added about 222 points to the Dow, while AT&T has subtracted about 33 points. That means the Dow would be about 255 points, or 1.4% higher than current levels, putting it at around 18237.
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