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March 1, 2017, 5:29 p.m. EST

The Dow’s 21,000 rally was powered by Apple’s 15% rally since Jan. 25

Apple has contributed about 123 points to the Dow’s advance to 21,000—the biggest driver of the blue-chip gauge’s push to a fresh milestone

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By Mark DeCambre, MarketWatch


Bloomberg News/Landov
The Apple Inc. logo is displayed outside of the Moscone Center before the start of the Apple World Wide Developers Conference (WWDC) in San Francisco, California, U.S., on Monday, June 8, 2015. Apple Inc., the maker of iPhones and iPads, will introduce software improvements for its computer and mobile devices as well as reveal new updates, including the introduction of a revamped streaming music service. Photographer: Michael Short/Bloomberg

Investors in blue-chip stocks can thank Tim Cook in part for Dow 21,000.

That is because gains in shares of Apple Inc.—the world’s largest company by market capitalization—over the past 24 trading days have been the biggest contributor to the blue-chip benchmark’s 1,000-point rally to Dow 21,000, according to Dow Jones Data Group.

Check out : Dow matches fastest 1,000-point march to a milestone in history

Apple’s nearly 15% rise since the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.35% first hit 20,000 on Jan. 25 has contributed about 123 points to the Dow’s rally to the milestone. That makes the Cupertino, Calif.-based iPhone maker, which has enjoyed a renaissance on the back of better-than-expected quarterly results and renewed enthusiasm over iPhone 8, the Dow’s largest driver. Coming in second was industrial component Boeing Co. /zigman2/quotes/208579720/composite BA +8.12% , which added 113 points over the past three weeks for a 10% gain.

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Because the Dow is a price-weighted average, rather than a market-value weighted gauge like the S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.14% , price moves in the Dow’s 30 components influence the equity benchmark rather than the weighted-average percentage changes of the S&P 500’s members.

That price-weighting came into play when the Dow’s surge to 20,000 in January was led by a surge in shares of Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +3.58% , which is trading at around $253 and has a market cap of about $99 billion, compared with Apple’s shares at around $139 and a market cap of nearly $720 billion, as of Wednesday trade.

En route to 21,000, Apple was the largest point and percentage contributor, while Goldman added 104 points for a roughly 6.5% rise over that period. Here are some of the other contributors to the Dow’s record-setting rally.

Company Point Contribution since 1/25 Percentage change since 1/25
Apple Inc. /zigman2/quotes/202934861/composite AAPL   122.65 14.7
Boeing Co. /zigman2/quotes/208579720/composite BA   113.34 9.9
Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS   105.87 6.5
3M Co. /zigman2/quotes/205029460/composite MMM   89.92 7.4
Johnson & Johnson /zigman2/quotes/201724570/composite JNJ   75.74 9.8
Home Depot Inc. /zigman2/quotes/208081807/composite HD   63.00 6.7
J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM   51.84 8.8
Travelers Cos. Inc. /zigman2/quotes/206313935/composite TRV     50.13 6.2
McDonald’s Corp. /zigman2/quotes/203508018/composite MCD     49.72 6.0
UnitedHealth Group Inc. /zigman2/quotes/210453738/composite UNH   47.88 4.2
Merck & Co. Inc. /zigman2/quotes/209956077/composite MRK   35.13 8.4
Visa Inc. Class A 34.86 6.1
American Express Co. 34.45 6.5
Procter & Gamble Co. 30.82 5.2
Nike Inc. 28.01 7.6
Cisco Systems /zigman2/quotes/209509471/composite CSCO   25.61 12.2
International Business Machines  Corp. /zigman2/quotes/203856914/composite IBM   25.06 2.1
Wal-Mart Stores Inc. 24.38 5.3
Pfizer Inc. /zigman2/quotes/202877789/composite PFE   21.44 10
DuPont Inc. /zigman2/quotes/203606582/composite DD   20.82 4
Disney Co. /zigman2/quotes/203410047/composite DIS   20.54 2.8
United Technologies Corp.   18.63 2.5
Microsoft Corp. /zigman2/quotes/207732364/composite MSFT   8.63 2
Caterpillar Inc. /zigman2/quotes/203434128/composite CAT   2.94 0.4
Coca-Cola Co. /zigman2/quotes/209159848/composite KO   0.27 0.1
Verizon Communications Inc. /zigman2/quotes/204980236/composite VZ   0.27 0.1
General Electric Co. /zigman2/quotes/208495069/composite GE   -1.23 -0.6
Intel Corp. /zigman2/quotes/203649727/composite INTC   -12.81 -4.9
Exxon Mobil Corp. /zigman2/quotes/204455864/composite XOM   -15.89 -2.7
Chevron Corp. /zigman2/quotes/205871374/composite CVX   -23.01 -2.9
Source: Dow Jones Data Group, FactSet (as of Wednesday’s close)
/zigman2/quotes/210598065/realtime
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Volume: 413.35M
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/zigman2/quotes/208579720/composite
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$ 229.34
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0.00%
Market Cap
$123.67 billion
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$412,489
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 330.64
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1.51%
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/zigman2/quotes/205029460/composite
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3.33%
Market Cap
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Rev. per Employee
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/zigman2/quotes/201724570/composite
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$ 162.59
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2.48%
Market Cap
$421.75 billion
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/zigman2/quotes/208081807/composite
US : U.S.: NYSE
$ 259.97
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P/E Ratio
21.77
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2.54%
Market Cap
$287.71 billion
Rev. per Employee
N/A
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 153.26
+2.65 +1.76%
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P/E Ratio
17.24
Dividend Yield
2.35%
Market Cap
$459.09 billion
Rev. per Employee
N/A
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/zigman2/quotes/206313935/composite
US : U.S.: NYSE
$ 150.96
+1.63 +1.09%
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P/E Ratio
14.33
Dividend Yield
2.25%
Market Cap
$37.66 billion
Rev. per Employee
$1.04M
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/zigman2/quotes/203508018/composite
US : U.S.: NYSE
$ 213.27
+1.95 +0.92%
Volume: 2.89M
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P/E Ratio
33.83
Dividend Yield
2.42%
Market Cap
$157.55 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210453738/composite
US : U.S.: NYSE
$ 332.21
+2.70 +0.82%
Volume: 3.36M
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P/E Ratio
20.73
Dividend Yield
1.51%
Market Cap
$312.65 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/209956077/composite
US : U.S.: NYSE
$ 74.57
+0.03 +0.04%
Volume: 9.39M
Feb. 24, 2021 4:02p
P/E Ratio
26.80
Dividend Yield
3.49%
Market Cap
$188.59 billion
Rev. per Employee
N/A
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/zigman2/quotes/209509471/composite
US : U.S.: Nasdaq
$ 45.74
+0.23 +0.51%
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P/E Ratio
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3.24%
Market Cap
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Rev. per Employee
$636,155
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/zigman2/quotes/203856914/composite
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5.29%
Market Cap
$107.56 billion
Rev. per Employee
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/zigman2/quotes/202877789/composite
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$ 33.75
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P/E Ratio
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4.62%
Market Cap
$188.49 billion
Rev. per Employee
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/zigman2/quotes/203606582/composite
US : U.S.: NYSE
$ 71.68
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P/E Ratio
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1.67%
Market Cap
$36.96 billion
Rev. per Employee
$599,912
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/zigman2/quotes/203410047/composite
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$ 197.51
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0.00%
Market Cap
$357.77 billion
Rev. per Employee
$320,813
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/zigman2/quotes/207732364/composite
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0.96%
Market Cap
$1759.37 billion
Rev. per Employee
$877,393
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/zigman2/quotes/203434128/composite
US : U.S.: NYSE
$ 222.47
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40.71
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1.85%
Market Cap
$120.07 billion
Rev. per Employee
$429,044
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/zigman2/quotes/209159848/composite
US : U.S.: NYSE
$ 50.71
+0.17 +0.34%
Volume: 14.44M
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P/E Ratio
28.30
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3.31%
Market Cap
$217.42 billion
Rev. per Employee
N/A
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/zigman2/quotes/204980236/composite
US : U.S.: NYSE
$ 57.12
+0.09 +0.16%
Volume: 17.14M
Feb. 24, 2021 4:00p
P/E Ratio
13.29
Dividend Yield
4.39%
Market Cap
$236.00 billion
Rev. per Employee
N/A
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/zigman2/quotes/208495069/composite
US : U.S.: NYSE
$ 13.12
+0.53 +4.21%
Volume: 106.79M
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P/E Ratio
22.59
Dividend Yield
0.30%
Market Cap
$110.39 billion
Rev. per Employee
$459,155
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/zigman2/quotes/203649727/composite
US : U.S.: Nasdaq
$ 63.19
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Volume: 24.67M
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P/E Ratio
12.79
Dividend Yield
2.20%
Market Cap
$248.27 billion
Rev. per Employee
$704,042
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/zigman2/quotes/204455864/composite
US : U.S.: NYSE
$ 56.70
+1.65 +3.00%
Volume: 28.73M
Feb. 24, 2021 4:02p
P/E Ratio
N/A
Dividend Yield
6.14%
Market Cap
$233.03 billion
Rev. per Employee
N/A
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/zigman2/quotes/205871374/composite
US : U.S.: NYSE
$ 103.31
+3.68 +3.69%
Volume: 16.12M
Feb. 24, 2021 4:03p
P/E Ratio
N/A
Dividend Yield
4.99%
Market Cap
$191.79 billion
Rev. per Employee
N/A
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Mark DeCambre is MarketWatch's markets editor. He is based in New York. Follow him on Twitter @mdecambre.

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