Bloomberg ETF analyst James Seyffart posted that the technology ETF $XLK, with assets under management of up to $67 billion, will undergo a rebalance later this month. According to its fund holding rules, if Apple’s market value continues to be lower than Nvidia’s, XLK will be forced to sell approximately $11 billion worth of Apple (AAPL) and forced to buy nearly $10 billion worth of Nvidia (NVDA).
AI Boosts Apple Stock to Record High BillionDollar Rebalancing with Nvidia Battle in Sight