April 1, 2022 7:26 AM 1 min read

S&P 500 Sector Re-shuffling Likely To End Tech Dominance

by Anusuya Lahiri Benzinga Editor
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  • S&P 500 will reclassify the sectors of some significant shares in 2023.
  • Payment processing companies currently classified as tech firms would join the financial industry. 
  • Other tech names providing outsourcing or human resources support would come under industrial stocks.
  • The dominance of tech stocks in the S&P 500 would likely shrink following the changes, Bloomberg reports.
  • The tech sector represented 28% of the S&P 500, more than the weighting of the healthcare and consumer-discretionary sectors' weighting. 
  • Now Visa Inc V, PayPal Holdings Inc PYPL, and Mastercard Inc MA would shift from tech to the financial sector marking a significant impact on the sector ETFs that have hefty exposure to these companies an expert suggested.
  • Photo by sergeitokmakov via Pixabay
FXL Logo
FXLFirst Trust Technology AlphaDEX
$158.837.43%
Overview
IYW Logo
IYWiShares U.S. Technology ETF
$157.93-%
MA Logo
MAMastercard Inc
$561.27-%
PYPL Logo
PYPLPayPal Holdings Inc
$72.300.35%
SPY Logo
SPYSPDR S&P 500
$597.290.46%
V Logo
VVisa Inc
$350.860.07%
VGT Logo
VGTVanguard Information Tech ETF
--%
XLC Logo
XLCThe Communication Services Select Sector SPDR Fund
$101.750.24%
XLK Logo
XLKSPDR Select Sector Fund - Technology
$231.830.36%
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