On Friday morning, it was announced that tech giant Apple (AAPL ) will be joining the Dow Jones Industrial Average, replacing AT&T (T ).

Apple will be added to the Dow 30 as of March 18, and will replace telecommunications giant, AT&T – a stock that has been a Dow member since 1939.

According to David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices: “Apple is the clear choice for the Dow Jones Industrial Average, the most recognized stock market measure."

The index is chosen by a group of Wall Street Journal editors and published by Dow Jones & Co.

The Bottom Line

Shares of AAPL were up $1.84, or 1.46% during premarket trading Friday. The stock is up 14.52% YTD.

Shares of T were down 44 cents, or 1.29% during premarket trading Friday. The stock is up 1.22% YTD.

Apple (AAPL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

AT&T (T ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.