Nasdaq to Cut Apple's Weight in Nasdaq-100 Index (AAPL)

NASDAQ OMX Group said on Tuesday it will rebalance the Nasdaq-100 index, cutting the weighting of Apple AAPL to 12.3% of the index compared with the current 20.5%. The company said that the rebalancing would be based on index securities and shares outstanding as of March 31. The effect would take effect on Monday, May 2. "Nasdaq decided to enact a special rebalance in order to bring the weights of the index securities closer in line with their actual market capitalizations," the company said. Shares of Apple closed Monday down $3.37, or 1%, to $341.19.