Apple joins the Dow: Here's what to watch

Despite Apple's stellar market performance, the stock could add some volatility to Dow Jones industrial average, RBC Capital Markets analyst Amit Daryanani said Thursday.

"The one thing you do wonder about is, Apple has been a straight-line up stock, but it has been fairly volatile historically and does this increase the volatility of the broader index?" Daryanani asked during a CNBC interview. "By our estimation, Apple's going to be something like 5 percent of the index right now."

Nasdaq congratulates Apple for joining the Dow Jones industrial average.
Nasdaq congratulates Apple for joining the Dow Jones industrial average.

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Apple officially joined the Dow after Wednesday's closing bell. Its entry into the Dow won't change how people view the company, Daryanani said, as long as the iPhone 6 and 6 Plus continue to sell well and the Apple Watch has a successful launch.

In the longer term, the question will be whether Apple can keep coming up with game-changing products like the iPhone to keep boosting its revenue, Daryanani added.

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