How do you like them apples?
According to the Wall St Journal investors got a scare on Monday when
Apple, among the best-performing stocks of 2012, tumbled 4.2%, capping a
five-day stretch during which it lost 8.8%. The stock continued its slide later
in the week, finishing Friday down 10% from its all-time high.
You didn't have to own a single share to feel the pain. That
is because Apple, the largest public company in the U.S., now makes up more
than 4% of the Standard & Poor's 500-stock index and almost 18% of the
Nasdaq-100. On some trading days, Apple alone can determine whether broad stock
indexes are up or down. On Monday, for instance, the Nasdaq fell 1.1%, while
the Dow Jones Industrial Average, which doesn't include Apple, rose 0.6%. On
Friday, Apple fell 2.5%, sending the Nasdaq down 0.4% even as the Dow rose
0.5%.
Making matters trickier, a broad swath of mutual funds have
been piling into Apple shares of late…
Read all about it at http://online.wsj.com/article/SB10001424052702304331204577352223280900012.html?mod=WSJ_hp_mostpop_read
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