Apple, Microsoft dominance on tech-stock indexes grows
already dominant in technology-stock indexes, are about to become even more so.
The changes could have a meaningful impact on sector-focused funds. According to data from Morningstar Direct, there was about US$163-billion in passively managed technology fund assets as of the end of February, along with another $81.9-billion in actively managed tech fund assets.The shift in index makeup will have a bigger impact on the stocks that are leaving the tech benchmark, Bank of America said.
Apple is up 20% this year, while Microsoft is up 17%, compared to gains of 2.9% for the S&P 500 and 15% for the Nasdaq 100 Index. On Friday, Apple dipped 0.2% while Microsoft rose 1%. The Nasdaq 100 was up 0.3%.
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