AI Boosts Apple Stock to Record High Battle with NVIDIA Involves Billions of Dollars in Rebalancing Sell Pressure

Bloomberg ETF analyst James Seyffart posted that the $670 billion tech ETF $XLK will undergo a rebalancing later this month. According to its fund holding rules, if Apple’s market value continues to be lower than Nvidia’s, $XLK will be forced to sell around $11 billion worth of Apple (AAPL) and forced to buy nearly $10 billion worth of Nvidia (NVDA).