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AT&T: Buy The Dip?

Today is quite a monumental day if you believe the 30 stocks on the prestigious Dow Jones Industrial Average, or DJIA, represent the future of the US economy. According to a CNBC report, AT&T (NYSE:T) is getting booted from the exchange and is being replaced by Apple (NASDAQ:AAPL).

What prompted this move was Visa's 4 for 1 stock split, scheduled for March 19, 2015. As the DJIA is price weighted, Visa's massive ~$270 per share price was distorting its relative position in the index. Furthermore, Apple's June 2014 7 for 1 stock split lowered its share price enough to not distort its relative strength on the index. Read more