Nat Kellogg, CFA
President, Director of Manager Search
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.
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