Welcome to the big time: Apple added to S&P 100

“Standard & Poor’s on Wednesday said computer and iPod maker Apple Inc. (AAPL) will join its S&P 100 index (OEX) of big blue-chip companies,” Reuters reports.

MacDailyNews Note: Apple is replacing MedImmune Inc. after trading ends Thursday, due to MedImmune’s pending acquisition by AstraZeneca. Of the companies in the S&P 500, the 100 which have the largest market capitalization make up the S&P 100. More info about the S&P 100 here.

“Shares of companies joining S&P [indexes] often rise because many portfolio managers try to track the index, and are required to buy stocks that enter it,” Reuters reports.

Full article here.

Standard & Poor’s, a division of The McGraw-Hill Companies, is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com

28 Comments

  1. In other related news Standard & Poor’s name will be changed to reflect the inclusion of ,Inc.

    The newly abbreviated name wil be iS&iP;… in time honoured tradiiton of all things Jobs!

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    or at least it should be!!!

    mdn – should as in “the value of shares should go through the already smashed ceiling!”

  2. I don’t like this. Why are they adding Apple to the Standard and Poor list? I think it’s an insult. There’s nothing standard about Apple, and certainly nothing poor. Apple belongs on the excellent and rich 100.

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