It's arguably the biggest stock story of 2023: a small number of giant technology companies now make up a very large part of big indexes like the S&P 500 and the Nasdaq-100.
Five companies (Apple, Microsoft, Amazon, Nvidia and Alphabet) make up about 25% of the S&P 500. Six companies (Apple, Microsoft, Amazon, Nvidia, Alphabet and Broadcom) make up about 40% of the Nasdaq-100.
The S&P 500 and the Nasdaq are rebalancing their respective indexes in recent reading sessions. While this is a routine event, some of the changes may reflect the concerns over concentration risk.
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