Nat Kellogg, CFA
President
Apple (AAPL) shares dropped 12% last week after a disappointing earnings report and are down 37% from their September 2012 peak. As our Chart of the Week shows, after the recent fall in shares of Apple, Exxon Mobil (XOM) is once again the largest company in the S&P 500 index. Apple’s market capitalization first surpassed Exxon’s on August 10, 2011 and at one point Apple’s market capitalization was 57% larger than Exxon’s. Investors that own Apple through a passively managed index are likely to find that their exposure has shrunk considerably over the last few months.
The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.
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