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Friday's trading could trigger a $10 billion rush of demand for Nvidia shares. Here's how

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SPDR Nyse Technology ETF,Apple Inc,NVIDIA Corp

Nvidia's market cap race with Apple and Microsoft could have a big impact on a $70 billion fund.

The Technology Select Sector SPDR Fund has an upcoming rebalance based on Friday's market caps.Nvidia makes up less than 6% despite being only slightly behind the two leaders in market cap.

The jockeying between the biggest stocks in the U.S. market takes on extra importance Friday, as a strong close to the week for Nvidia could cause a huge shift in a $70 billion fund. At stake is one of the top two spots in the Technology Select Sector SPDR Fund , whose June rebalance is based on market cap values as of Friday's close. Apple and Microsoft are the two biggest holdings in the fund, at roughly 22% each.

 

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Prediction: Nvidia Stock Will Reach $10 Trillion Market Cap By 2030Beth Kindig is the CEO and Lead Tech Analyst for the I/O Fund and delivers weekly in-depth tech stock analysis to her free newsletter subscribers. Sign up here to receive free weekly stock tips. I/O Fund has a cumulative 3-year audited return of 47%, beating Ark and the majority of Wall Street funds over four audit periods in 2020, 2021 and 2022.
Source: ForbesTech - 🏆 318. / 59 Read more »