Magnificent 7 Hits 31% Weighting for S&P 500, Top 5 Holdings Hit 27% Weighting: Will Investors Look Elsewhere?

Benzinga · May 30 01:15

Semiconductor giantNVIDIA Corporation(NASDAQ:NVDA) has been surging in value and could soon be the most valuable company in the world.

The strong gains for Nvidia and other Magnificent 7 stocks have helped boost several major stock indexes, but also show significant weighting for a small basket of stocks.

What Happened:Strong first-quarter financial results from Nvidia have sent the stock to new all-time highs and a market capitalization closing in onMicrosoft Corp(NASDAQ:MSFT) andApple Inc(NASDAQ:AAPL).

The gains by Nvidia have also pushed the weighting of the top five stocks in the S...

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Magnificent 7 Hits 31% Weighting for S&P 500, Top 5 Holdings Hit 27% Weighting: Will Investors Look Elsewhere?

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