Apple (AAPL) Slammed As NASDAQ 100 Index Weighting Will Be Cut
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Shares of Apple (Nasdaq: AAPL) are under pressure in pre-open trading Tuesday following news that the NASDAQ 100 will undergo a Special Rebalance, which will cut Apple's weighting in the index.
Nasdaq said the Special Rebalance will bring the weights of the Index Securities closer in line with their actual market capitalizations.
The rebalance will be effective prior to market open on Monday, May 2, 2011.
Apple is currently 20 percent of the index. After the rebalancing its share will be 12 percent.
Shares of Apple last traded down over $10 to $330.50.
Nasdaq said the Special Rebalance will bring the weights of the Index Securities closer in line with their actual market capitalizations.
The rebalance will be effective prior to market open on Monday, May 2, 2011.
Apple is currently 20 percent of the index. After the rebalancing its share will be 12 percent.
Shares of Apple last traded down over $10 to $330.50.
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