Russell Recon Review: Tesla, Meta, and the tech giants

Friday, June 24 was our annual recon day, where we recalibrated the Russell US index family to accurately reflect the current state of the US equity market. And while Russell Index performance since last year’s recon told the story of inflation fears, when it came to index composition changes the biggest stories were about the biggest companies.

For the first time since 2019, the largest five Russell 3000 companies by market cap reshuffled their size rankings. While Apple and Microsoft held last year’s spots as the first and second largest companies respectively, Apple widened its lead with an increase in market cap of 17.15% compared with Microsoft’s increase of 8.06%.

However, despite falling to a more distant second place, Microsoft reached an important milestone of its own. The tech giant joined Apple in having a total market cap of over $2 trillion—the first time ever that multiple companies have broken this threshold. 

Read the full blog post now at the link below