TECH - Palantir Misses Out Super Micro Computer Makes The Cut: What Investors Should Know About S&P 500 Quarterly Rebalance | Benzinga
AI stock play Palantir Technologies, Inc. (NYSE:PLTR) was not included in the S&P 500 Index in the latest quarterly rebalance of key S&P indices announced on Friday.
What Happened: AI server manufacturer Super Micro Computer, Inc. (NASDAQ:SMCI) and California-based footwear designer and distributor Deckers Outdoor Corp. (NYSE:DECK) will join the S&P 500 Index, effective March 18, S&P Dow Jones Indices, a division of S&P Global, said in a release.
Super Micro Computer and Deckers Outdoor will replace Whirlpool Corporation (NYSE:WHR) and Zions Bancorporation, National Association (NYSE:ZION), respectively, in the index. The latter two will take the former two’s places in the S&P MidCap 400 Index.
The S&P 500 Index is considered the best single gauge of large-cap U.S. equities and includes 500 leading companies, covering approximately 80% of available market capitalization. The S&P 500, a market-cap weighted index, is rebalanced quarterly, usually on the third Friday of March, June, September ...