Best Buy Not in Trouble with Apple? Holding iPad 2 Stock for ‘Upcoming Promotion’
Friday April 08, 2011 01:38 PM EST
Written by Arnold Kim
Rating (11 Positives; 27 Negatives)
[ 72 comments ]
TweetShare
Powered By iWebRSS.com
Apple’s weighting in the Nasdaq-100 Index will be cut on May 2nd to reduce Apple’s influence on the stock index.
Apples representation will be reduced to 12.33 percent of the index on May 2, from 20.49 percent, Nasdaq OMX Group Inc. said in a slide show on its website today, after previous rules caused its proportion in the gauge to grow disproportionately. The weightings of Microsoft Corp. and Cisco Systems Inc. will more than double.
Apple’s weighting in the stock index is said to be overrepresented at 6x the value of the second largest stock (Microsoft) despite only having a 46 percent larger market value.
The Nasdaq-100 consists of the 100 largest nonfinancial stocks that trade on the Nasdaq. According to Wall Street Journal, over $330 billion worth of assets track the index via exchange-traded funds, mutual funds, options and futures. The move could hurt Apple’s stock price due to significant selling pressure as indexes adjust to the new weightings:
The rebalancing is likely to kick off waves of trading in the stock market as money managers scramble to adjust holdings to reflect the new composition of the index. There are more than 2,900 financial products tracking the Nasdaq-100 in 27 countries, Nasdaq says. That includes the $24.4 billion PowerShares QQQ exchange-traded fund, which over the past year has been the sixth most actively traded stock on U.S. exchanges.
The changes go into effect on May 2nd.
Powered By iWebRSS.com
AppleInsider reports that Apple has begun advising third-party retail partners of impending shortages of the company’s iMac models, suggesting that a refresh of the company’s popular all-in-one desktop line may be in store for the near future.
In particular, a person familiar with the matter says the Mac maker is informing some of its distributors not to expect any further stock of the entry level 21.5-inch, 3.06GHz iMac, implying that production of that model has ceased.
Meanwhile, those with ties to the company’s stateside reseller channels are being advised to sell through their stock of all existing iMac models and to keep their inventories as lean as possible for the next few weeks.
Just last week, Hardmac reported that the Mac Pro would see an “end of summer” update, with iMac updates not following until several weeks after that. The site also claimed that the iMac may gain USB 3.0 and faster FireWire connectivity as part of the refresh.
The iMac was last updated in October, when it saw a major redesign to shift to 21.5-inch and 27-inch LED displays.
Powered By iWebRSS.com
The iPhone 4 launch headache continues, with a second batch of supposedly cancelled handset orders. After reports last week that AT&T had sent out emails telling iPhone 4 buyers that their orders had been declined which the carrier explained as balancing out those who had accidentally double-ordered as the stock systems went into meltdown both Gizmodo and Engadget have been inundated by …
Read this article:
iPhone 4 orders cancelled by AT&T and Apple for the second time?
SEATTLE Apple Inc., maker of Macintosh computers, the iPhone and other gadgets, reports its fiscal second-quarter results after the stock market closes Tuesday.
Read more here:
Verizon Wireless iPhone a possibliity
This app offers an interesting twist on stock selection, especially for people who want the benefit of a portfolio manager without the usual expenses. If nothing else, Stock Genie 2 offers to give you a stock market education for the price of an iPhone app.
Read more:
Review: Stock Genie 2 for iPhone