Apple's influence on Nasdaq-100 index slashed

Apple's influence on Nasdaq-100 index slashed by 40% By Aaron Smith, staff writer


NEW YORK (CNNMoney) -- The Nasdaq-100 index will be rebalanced to reduce the weight of Apple's stock by about 40%, Nasdaq OMX announced Tuesday.

The changes will bring Apple in line with Nasdaq rules that require a rebalancing whenever a single stock makes up more than 20% of the index.

Apple (AAPL, Fortune 500) currently represents 20.5% of the index, even though there are 99 other stocks in the index. When this change goes into effect on May 2, Apple's weight will be reduced to 12.3%.

The rebalancing will increase the weight of other tech stocks, including Microsoft and Google. Microsoft (MSFT, Fortune 500) will make up 8.3% of the index, more than double the current 3.4%. Google (GOOG, Fortune 500)'s weight in the index will rise to 5.8% from 4.2%.

Telecommunications manufacturer Qualcomm (QCOM, Fortune 500), currently the second heaviest-weighted issue in the Nasdaq-100 at 5%, will be reduced to a 3.5% weighting.

Most of the other stocks make up less than 1%.

Apple shares slipped 3% in premarket trading. To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.35%4.33%
15 yr fixed3.77%3.72%
5/1 ARM4.18%4.17%
30 yr refi4.32%4.34%
15 yr refi3.73%3.70%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 25,140.39 177.91 0.71%
Nasdaq 7,267.89 57.81 0.80%
S&P 500 2,726.13 22.17 0.82%
Treasuries 2.88 -0.04 -1.23%
Data as of 11:42am ET
Company Price Change % Change
Chesapeake Energy Co... 3.14 -0.06 -1.73%
Hewlett Packard Ente... 18.00 1.59 9.69%
Micron Technology In... 46.22 1.97 4.45%
Bank of America Corp... 31.85 0.16 0.50%
Advanced Micro Devic... 12.12 0.28 2.32%
Data as of 11:26am ET

Sections