Amazon to replace Walgreens in Dow Industrial Average next week

▤ Summary

"Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA," S&P Dow Jones Indices said in a statement. Todays Amazon is more than just "the leading online retailer of books," which is how the company described itself to investors before its 1997 initial public offering. The worlds second wealthiest man based on one measurement, Bezos has unloaded billions in stock in recent weeks. Amazons advertising business delivered 27% revenue growth in the fourth quarter, faster than at Alphabet, Meta and Microsoft. Amazons arrival in the Dow Jones comes three years after business software maker Salesforce joined, along with Amgen and Honeywell International.

▦ Linked Companies

Amazon

$1B+