Mega-cap tech stocks are so big that the Nasdaq 100 is forcing a shake-up

📆 7/12/2023 5:41 AM
📰 BusinessInsider

⏱ Reading Time:
23 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 51%

Finance Finance Headlines News

Mega-cap tech stocks have gotten so big that the Nasdaq 100 is about to undergo a 'special rebalance' to address overconcentration

The 2023 rebalance announcement was"driven by Tesla's week-ago rally, causing the constituents weighting > 4.5% to exceed 48% of the index.

Their collective weight will be down-sized to 40%," Harvey said in a recent note, adding that the biggest losers will be Apple and Microsoft, which should see their weight fall by almost 2% each."We believe this liquidity event dents, but does not break, the longer-term uber-cap trend... as long as the economy remains in a malaise , rather optimistic valuation premiums and growth estimates are difficult to refute," he said.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly Forex Forecast \u2013 NASDAQ 100 Index, GBP/USD, USD/JPYThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week and in which direction. Get our weekly Forex forecast here:
Source: Daily_Forex - 🏆 567. / 51 Read more »

CNBC Daily Open: Red hot techOn Friday, Nasdaq will announce changes to the weighting of component stocks in its popular Nasdaq 100 Index, which has surged about 37% year to date.
Source: CNBC - 🏆 12. / 72 Read more »