Most of the mainstream financial media is frothing over what Apple Inc. (Nasdaq: AAPL) will do for the Dow.
Apple will join 29 other Dow Jones Industrial Average stocks after the close of trading March 18. When it replaces AT&T Inc. (NYSE: T).
But a look at how Dow stocks do after changes to the index says AT&T stock is headed up.
You see, when you compare the performance of previous Dow Jones rejects with the stocks that replaced them, on average the rejects come out ahead.