(Updates with the actions of the first paragraph, the sick leave jobs in fifth).
April 5 (Bloomberg) - weighting of Apple Inc. in the Nasdaq-100 index was cut as the technology-heavy equity gauge had its first major redesign since 1998 to better reflect the value of the business market. The manufacturer of the iPhone fell in premarketing trade.Representation of Apple will be reduced to 1233 may 2 20,49% index %, Nasdaq OMX Group Inc. says in a slide show on his website today, after the previous rules has caused its proportion in the gauge to grow disproportionately. The percentages of Microsoft Corp. and Cisco Systems Inc. will more than double.Apple weighting in the tonnage of Nasdaq is currently six times more than the second largest constituent grand, based in Redmond, Washington Microsoft, while its market value is only 46 percent larger, according to data compiled by Bloomberg. "Adjusted rules members from their respective position caused index stocks moving out"of alignment to their actual capitalization on the market,"stated the presentation"."It would probably affect international funds, given that Apple is a so big business around the world," said Tim Schroeders, a money manager Melbourne to Pengana Capital Ltd., which manages approximately $ 1 billion. "Passive funds in particular will be forced to re-weight in these stocks that have had increases in percentages, and in the short-term we will see some pressure sale on Apple".Apple FallsApple, which is based in Cupertino, California, dropped by 3.1% to $330.50 to 6 pm in the trade prior to the commercialization of New York. Futures contracts on the Nasdaq-100 expiring in June slid 0.8 p. 100.Apple has become a technology company more valuable to the world as consumers snap of gadgets, including the iPhone and the iPad tablet computer. While analysts believe that the company can keep posting growth of sales of more than 50 percent over the next two years, sick of founder Steve Jobs since January as he battles a rare form of cancer has raises concerns future products can not not the edge of the previous offers.The market capitalization of Apple jumped to 332 billion to $ 2.1 billion in 1998, according to Bloomberg data. Alan Hely, a spokesman for Apple to London, has refused to comment on contacted by Bloomberg News today.Changes will be the Nasdaq-100 une more attractive measure of U.S. equities, Jacques Porta, which helps to overseeing about 400 million dollars in stock to the FIO heritage in Paris. "No Diversification'" this is no good to have your funds compared with an index where so much is concentrated "in a stock, he said. "You cannot manage risk if there is no diversification, especially if the volatility increases."The weighting for Microsoft, which has a market value of 214.7 billion, will be given to 8.32 per cent, showed the Nasdaq slides. Cisco, vendor based in San Jose, California of networking products, data will be stimulated 3.66% of 1.56%.Shares of Microsoft rose 2.3% to $26.15 in exchange for New York at the beginning. Cisco Advanced 1.1% representation by $17.24.Oracle Corp. in the Nasdaq-100 will be lifted to 6.68% of 3.32%, while Intel Corp. will be increased by 4.2% to 1.75%, said the presentation. Intel gained 0.7% to $19.63 prior negotiation, while Oracle and has varied little in total Europe.In, 82 of 100 titles index will drop in weight, said the presentation.-With the help of Cornelius Rahn in Frankfurt. Editors: Andrew Rummer, Darren Boey
To contact the reporters on this story: Kana Nishizawa in Tokyo at the knishizawa5@bloomberg.net; Alexis Xydias in London at axydias@bloomberg.net.
To contact the responsible editors of this story: Darren Boey to dboey@bloomberg.net; Andrew Rummer at arummer@bloomberg.net.
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