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Apple’s stock falls further behind AT&T’s since Dow swap

AT&T says good riddance to Dow membership

Believe it or not, investors would have been much better off selling Apple Inc. stock and buying AT&T Inc. after Apple took AT&T’s place in the venerable Dow Jones Industrial Average six months ago.

Since Apple shares AAPL, +0.23% entered the Dow after the March 18 close, they have slumped over 11% through midday trade on Friday. That means AT&T shares T...