TECH - Nvidia's AI Muscle Propels Stock Past Apple To No. 2 Spot On SPY Holdings: What Investors Need To Know | Benzinga
Nvidia, Inc.‘s (NASDAQ:NVDA) lead in artificial intelligence has translated to strong fundamentals, giving a major boost to its stock price. While still trailing Apple, Inc. (NASDAQ:AAPL) in market cap, Nvidia emerged on Tuesday as the second-largest holding in the SPDR S&P 500 ETF Trust (NYSE:SPY), a key exchange-traded fund mirroring the S&P 500.
What Happened: Information from SPY’s trustee, State Street Global Advisors (SSGA), shows Nvidia now holds a 6.39% weighting, second only to Microsoft Corp. (NASDAQ:MSFT) at 6.91%. Apple falls to third with 6.34%.