Tesla, Meta and Broadcom Weights Shrink in Nasdaq 100 Rebalance

Bloomberg12-24 03:08

(Bloomberg) -- Three of the world’s biggest companies have had their influence reduced in the Nasdaq 100 Index after the giant technology rally of 2024 swelled them to unprecedented size. Tesla Inc., ...

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Apple Inc., Nvidia Corp., Microsoft Corp. and Alphabet Inc. each came out of the annual process with larger weights, according to data compiled by Bloomberg.The Nasdaq 100 is weighted roughly according to its members’ relative market caps. But it’s also governed by several provisions that can kick in when a few companies get too big. One triggers when all the constituents making up more than 4.5% of the benchmark, respectively, together add up to 48% or more. That happened first in mid-2023, requiring a reweighting then — and again recently, after Broadcom surged enough to push it over the 4.5% threshold.More than 200 exchange-traded products with some $540 billion in assets follow the Nasdaq 100 ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4554":"元宇宙及AR概念","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","QQQM":"Invesco NASDAQ 100 ETF","AAPL":"苹果","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF",".IXIC":"NASDAQ Composite","NVIW.SI":"NVDA 3xLongSG261006","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","2NVD.UK":"2X NVIDIA ETP","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","LU0823421416.USD":"BNP PARIBAS DISRUPTIVE TECHNOLOGY \"C\" (USD) INC","LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","QID":"纳指两倍做空ETF","SQQQ":"纳指三倍做空ETF","NVD2.UK":"2X NVIDIA ETP","TSYW.SI":"TESLA 3xLongSG261006","LU2275660780.HKD":"SCHRODER ISF GLOBAL CLIMATE CHANGE EQUITY \"A\" (HKD) ACC","NVD3.UK":"LS 3X NVIDIA","SNVD.UK":"LS -1X NVIDIA","USAW.SI":"AMZN 3xLongSG261006","NVDS.UK":"LS -1X NVIDIA","QQQ":"纳指100ETF","NVD":"GraniteShares 2x Short NVDA Daily ETF","TSLL":"Direxion Daily TSLA Bull 2X Shares","SG9999015978.USD":"利安颠覆性创新基金A","NVDD":"Direxion Daily NVDA Bear 1X Shares","LU0949170772.SGD":"Blackrock Global Equity Income A6 SGD-H","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","TQQQ":"纳指三倍做多ETF","3NVD.UK":"LS 3X NVIDIA","BK4549":"软银资本持仓","USJW.SI":"ALPHAB 3xLongSG261006","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","AVGOP":"BROADCOM INC PFD SER A 22","NVDS":"Tradr 1.5X Short NVDA Daily ETF","PSQ":"纳指反向ETF","NVDU":"Direxion Daily NVDA Bull 2X Shares","GOOG":"谷歌","LU0029864427.USD":"TEMPLETON GLOBAL \"A\" (USD) INC","QLD":"纳指两倍做多ETF"},"translate_title":"特斯拉、Meta和博通在纳斯达克100指数重新平衡中的权重缩水","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".IXIC":1,"AVGOP":1,"TSLL":1,"QQQM":1,"AAPL":0.9,"GOOG":0.87,"NVDS":0.6,"NVD2.UK":0.6,"NVDS.UK":0.6,"NVDU":0.6,"NVDX":0.6,"NVDY":0.6,"NVIW.SI":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"QQQ":0.6,"SNVD.UK":0.6,"SQQQ":0.6,"TQQQ":0.6,"TSYW.SI":0.6,"USAW.SI":0.6,"USJW.SI":0.6,"2NVD.UK":0.6,"3NVD.UK":0.6,"MNQmain":0.6,"NQmain":0.6,"NVDD":0.6,"NVD":0.6,"NVD3.UK":0.6},"content_text":"(Bloomberg) -- Three of the world’s biggest companies have had their influence reduced in the Nasdaq 100 Index after the giant technology rally of 2024 swelled them to unprecedented size.\nTesla Inc., Meta Platforms Inc. and Broadcom Inc. all saw their share of the benchmark fall in an annual rebalancing. Apple Inc., Nvidia Corp., Microsoft Corp. and Alphabet Inc. each came out of the annual process with larger weights, according to data compiled by Bloomberg.\nIt’s the second time in a about a year that overseers have tweaked the index’s allocation to its biggest members, a cohort roughly synonymous with the Magnificent Seven stocks whose unstoppable appreciation has been a huge market story. Rules intended to keep too few companies from exacting too great an influence in equity gauges have gotten a workout the last few years due to the mostly artificial-intelligence fueled advance.\nThe Nasdaq 100 is weighted roughly according to its members’ relative market caps. But it’s also governed by several provisions that can kick in when a few companies get too big. One triggers when all the constituents making up more than 4.5% of the benchmark, respectively, together add up to 48% or more. That happened first in mid-2023, requiring a reweighting then — and again recently, after Broadcom surged enough to push it over the 4.5% threshold.\nNasdaq’s rules for how to carry out a megacap cull are complex and open to interpretation. But this latest reshuffle may have been governed by a rule that allows overseers to reset the weighting of the five biggest companies to just under 40% and adjust the others accordingly. A Nasdaq spokesperson declined to comment on specifics and pointed to methodologies posted on the exchange-operator’s website.\n“It’s very technical,” said Steve Sosnick, chief strategist at Interactive Brokers. “In some ways, the Nasdaq 100 has to do this because it’s a victim of its own success because the biggest stocks in the index have grown so dramatically relative to the rest of the index.” \nMegacap tech stocks surged this year as advancements around artificial intelligence helped propel shares. More recently, Broadcom — which is a chip supplier for Apple and other big-tech firms — skyrocketed to a $1 trillion market valuation on the back of projections that it will see a boom in demand for its products. Tesla also surged some 75% in the wake of the US presidential election. \nWithin the Nasdaq 100, Apple’s weighting rose to 9.8% from 9.2% on Friday, while Nvidia’s went up to 8.4% from 7.9%. Microsoft’s and Amazon.com Inc.’s also went up, while Alphabet’s increased a smidgen. Broadcom’s fell to 4.4% from 6.3%, Tesla’s dropped to 3.9% from 4.9%, and Meta’s to 3.3% from 4.9%, according to the data. \nMore than 200 exchange-traded products with some $540 billion in assets follow the Nasdaq 100 or one of its variations globally, an analysis by Bloomberg Intelligence show. The Invesco QQQ Trust Series 1 (ticker QQQ) and the Invesco NASDAQ 100 ETF (QQQM), for instance, track the Nasdaq 100 and have had to tweak their holdings to comport with the new changes, meaning that they will be maintaining lower weights for the stocks whose weightings went down, and vice versa, says BI’s Athanasios Psarofagis.  \n“This shows the growing influence of index providers on market dynamics,” Psarofagis said. “It’s always been important to be included in an index and I feel that the importance of index inclusion has grown over the last couple of years, thanks, in part, to money moving into ETFs and passive vehicles.” \n--With assistance from Lu Wang and Emily Graffeo.\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493792607"}