FYI: Apple —and tech stocks in general—are about to become less important to the S&P 500.
Next week, S&P Dow Jones Indices will readjust the representation of the 500 companies that constitute the market benchmark, a quarterly process known as a rebalancing. Exchange-traded funds and mutual funds that track the S&P 500 will have to readjust their holdings as a result—a process that results in billions of dollars of buying and selling.
The rebalancing will take effect when the market opens on June 24—based on market levels as of this coming Friday. Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, shared preliminary data Monday on how the shake-up could turn out.
Regards,
Ted
https://www.barrons.com/articles/s-p-500-rebalancing-will-leave-apple-tech-with-smaller-roles-51560887488?refsec=funds
