NEW YORK: As a technology-driven rally brings US stock indexes within striking distance of fresh records, concerns that big names are over-extended and that new regulation might be coming have some investors diversifying beyond the rally leaders.
The S&P 500’s five biggest companies, Apple Inc, Microsoft Corp, Amazon.com Inc, Alphabet Inc and Facebook Inc now account for 28% of the index’s weighting and have been responsible for 25% of its earnings, Goldman Sachs said earlier this month.
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