Apple Inc. will join the Dow Jones Industrial Average, a long-anticipated change that adds a global branding phenomenon and technology-industry standard-bearer to the 119-year-old blue-chip index.

The move is the latest milestone for Apple, the largest company in the world by market value, at $736 billion. In January, Apple reported latest-quarter net income of $18 billion, the largest quarterly profit on record, fueled by roaring sales of iPhones.

Apple will replace telecommunications giant AT&T Inc. on March 19, according to S&P Dow Jones Indices, the unit of McGraw Hill Financial Inc. that owns the Dow. S&P Dow Jones said a planned stock split by Dow component Visa Inc. this month stands to reduce the information-technology-sector weighting of the Dow, opening the way to Apple’s addition.

“Adding Apple is a symbol of how technology has permeated our everyday lives,” said Wayne Lin, a portfolio manager at QS Investors, which manages about $19 billion.

Apple stock has been one of the market’s monster performers in recent years, posting an annualized total return, reflecting price gains and dividend payments, of 36% over a decade. The company boasts one of the most recognizable and respected consumer brands in the world. A galaxy of blogs cover every move by the company and its executives.