Jun 19, 2024, 4:05 PM
Jun 16, 2024, 10:30 AM
Nvidia's Stock Soars, Making Shareholders Billions Richer in Tech Fund Shift
Subjective
- Nvidia's stock value surges, resulting in 10 shareholders gaining $36 billion in a month.
- Apple faces demotion in a major tech fund while Nvidia's weighting increases to 20%.
- Investors flock to Nvidia as a top choice, surpassing other global tech stocks.
Microsoft and Nvidia will have a weight of around 21% in a tech ETF, while Apple will fall to about 4.5%. The Technology Select Sector SPDR Fund will rebalance, with Microsoft and Nvidia having a higher weight due to market cap values. Nvidia's rally has led to a significant increase in the fund's holdings of the chip giant. Investors are divided on whether to buy Nvidia stock, which has seen a 200% rise in the last 12 months. Adobe and HDFC Bank are also favored by investors for their growth potential. Several top executives and board members of Nvidia have seen significant gains from their holdings in the company.
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