Nvidia to get 20% weighting and billions in investor demand, while Apple demoted in major tech fund
Publishing timestamp: 2024-06-17 13:36:49
Summary
The Technology Select Sector SPDR Fund (XLK) will rebalance its holdings, with Microsoft and Nvidia having a weight of around 21% each, while Apple will fall to about 4.5%. This shift is due to Nvidia's blistering rally and the fund's diversification rules. The rebalance will take effect at the end of the week, even if Apple outperforms Nvidia before then.
Sentiment: NEUTRAL
Tickers: AAPL, MSFT, XLK, NVDA,
Keywords: microsoft corp, breaking news: markets, nvidia corp, investment strategy, breaking news: investing, apple inc, business news, technology select sector spdr fund,