The jockeying among the largest companies in the US market takes on added importance Friday, as a strong end to the week for Nvidia might create a massive move in a $70 billion fund.
One of the top two positions in the Technology Select Sector SPDR Fund (XLK) is on the line, with the June rebalance based on market cap values as of Friday’s close.
Apple and Microsoft are the fund’s two biggest holdings, accounting for nearly 22% apiece. Nvidia accounts for less than 6% of market capitalization despite being only marginally behind the two giants.
Source (CNBC)
