Apple Inc (AAPL)

[Investors3]

Apple is now worth more than the entire Russell 2000
Monday, May 15, 2023 5:46 pm

The market value of Apple, the world’s most valuable company, has surpassed that of the entire Russell 2000 for two weeks, the longest stretch on record, according to Bloomberg data.

The Russell 2000 Index is a small-cap U.S. stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index. It was started by the Frank Russell Company in 1984. The Russell 2000 is by far the most common benchmark for mutual funds that identify themselves as “small-cap” as opposed to the S&P 500 index which is used primarily for large cap stocks. The top stock by index weight in the S&P 500 is, of course, Apple with an index weighting around 7.28% (Microsoft is second at 6.60%, Amazon is a distant third at 2.68%.

Joseph Adinolfi for MarketWatch:

Apple’s market capitalization, which measures how much the company is worth based on the value of all its outstanding stock, surpassed that of the Russell 2000 on April 27 and has held higher through Monday. The only other time that occurred was Sept. 1, 2020, when Apple’s valuation passed that of the small-cap index for only a day.

With a market capitalization of roughly $2.7 trillion, Apple is now worth roughly $100 billion more than the combined value of all 2,000 stocks in the Russell 2000, according to Bloomberg data shared with MarketWatch.

A team of stock-market analysts from Bespoke Investment Group illustrated the trend in a chart shared on Twitter Monday.

MacDailyNews Take: Only Apple.

https://macdailynews.com/2023/05/15/apple-is-now-worth-more-than-the-entire-russell-2000/