"Nasdaq 100's Special Rebalance Targets Dominant Big Tech Stocks"
The Nasdaq 100 index is planning to adjust the weighting of its 100 components, particularly the "magnificent seven" stocks - Microsoft, Apple, Nvidia, Tesla, Google parent Alphabet, Meta Platforms, and Amazon.com - which currently account for over half of the index's weight. The rebalance aims to address overconcentration in the index and redistribute the weights. The changes will be announced on July 14, with the rebalance taking place on July 24. The current weights are largely based on market capitalization, but there may be notable shifts within the seven stocks.