Magnificent Seven News: Apple Dethroned By Microsoft For First Time In Four Years In Russell 1000
On Friday, FTSE Russell announced latest news of the FTSE Russell indexes, including the Russell 1000 Index, Russell 2000 Index, and Russell Microcap Index.
The news was revealing – not least because of significant changes to the top three companies by market cap in the Russell 1000 index.
Apple loses number one spot to Microsoft
For the first time since 2020, Microsoft (MSFT) retook its crown as the largest company position in both the Russell 3000 and Russell 1000 Indexes, dethroning Apple from the top spot.
While Microsoft Corporation increased its market capitalization by almost 27% in the past year, rising to $2893.6 billion, Apple Inc. (AAPL) actually lost market cap, falling 2% to $2630 billion.
Nvidia beats out Google
The mighty Alphabet, parent company to Google (GOOGL), was relegated from third to fourth place, as Nvidia (NVDA) moved up the ranks into third place.
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