AAPL: Apple Is Normal Again: #2 In The SPY ETF And No Longer A Stand-Alone Asset Class

Apple Is Normal Again: #2 In The SPY ETF And No Longer A Stand-Alone Asset Class
by Pendulum

With size comes the expectation of leadership. That may or may not be true in the real world, but it seems true in the stock market. Apple (AAPL) was once a stock market leader and seemed to have significance for the broader market. Times have clearly changed. Everybody is aware of the precipitous fall in Apple's stock price, but a more subtle change has occurred that could be good for the stock. Apple is now #2 in the SPDR S&P 500 ETF (SPY). It lost the top spot to Exxon Mobil (XOM), which comprises 2.93% of the SPY, compared to 2.91% for Apple (as of March 14, 2013). Near its peak, Apple represented 4.44% of the S&P 500 (end of June 2012). In this article, I will discuss some of the implications of Apple's return to normalcy and how it could be a positive catalyst for the stock. read more »

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