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Nasdaq shift to lighten Apple's weighting
The Nasdaq stock exchange will cut the weighting it gives to Apple on a key index at the same time that it boosts the weighting for tech titans including Microsoft and Cisco Systems.
In a major rebalancing of the tech-heavy Nasdaq 100 index, which will go into effect ahead of the market open on May 2, the exchange aims to better reflect the current market values of several significant companies. For example, Apple's weighting on the Nasdaq 100 is currently more than six times that of Microsoft, even though Apple's market value is only 46 percent larger, according … Read more
