Apple Stock Is Responsible for 21% Of the S&P 500's Gain This Year: Bespoke
direction of the index. Apple is the most heavily-weighted component of the S&P 500, which means it has an outsized influence on the direction of the index.
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Employees at an Apple Store in Shanghai, China serve customers. : (Cfoto/Zuma Press)
Apple's earnings report later this week will have a major impact on the stock market. Apple is the largest component of the S&P 500 and therefore has a large influence on its direction.
Bespoke Investment Group released data on Sunday that showed 21% of S&P 500 gains in this year was attributed to shares of the tech giant. The stock has risen by approximately 30% in the past year.
Dow Jones Market Data reports that the S&P 500 information technology sector - of which Apple is part - hit a 52 week high on Monday.
Apple Inc.
AAPL (U.S. : Nasdaq