NEW YORK (AP) - Nasdaq OMX Group Inc. says it will perform a special rebalance of the Nasdaq-100 Index next month that will reduce Apple Inc.'s weighting in the index.
The operator of the Nasdaq stock market said Tuesday that the rebalance will bring the weights of the companies in the index closer in line with their actual market capitalizations. It will not change the methodology used to calculate the index or the index securities.
Apple currently accounts for 20 percent of the index, and the rebalancing will bring that share down to 12 percent. In premarket trading, Apple shares are down more than 3 percent.
The special rebalance will occur before the market opens on May 2.