Apple and Microsoft Have Never Held More Sway Over the S&P 500
- The pair combine for 14% of the market cap weighted index
- Apple and Microsoft have added $1 trillion in value in 2023
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Apple Inc. and Microsoft Corp. have never held more sway over the S&P 500 Index, leaving some investors on edge over the gauge’s increasingly top-heavy nature.
The world’s two most-valuable companies saw their combined weightings in the benchmark jump to a record 14% this week after strong earnings reports from Microsoft and others fueled a rally in technology stocks. When you include Alphabet Inc., Amazon.com Inc., Meta Platforms Inc. and Nvidia Corp, nearly a quarter of every dollar put into the S&P 500 is now split between just six names.