The Big Tech stock overtook the combined cap of 2,000 small stocks.
The combined value of all of Apple 's shares is greater than the entirety of an index comprised of 2,000 small stocks. It's a sign that investors are taking flight to perches where they can ride out an economic downturn. Apple's market cap, a measurement of the value of all of its shares, hit $2.714 trillion Monday, according to FactSet. That's bigger than the combined market cap of all 2,000 stocks in the small cap-focused Russell 2000 , which was at $2.208 trillion.
But the power of Apple and other mega-cap stocks like Microsoft that have led the S & P 500 up this year can disguise a lack of breadth that could cause trouble down the road, he said. "You have market generals leading, and rather than the army following behind, the army is on the sidelines saying, 'Eh, I don't think we're going to take the field right now,'" Delwiche said. "That's where you get the issue for the rest of the market.
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