how the stock performs. reporter: it s known as the apple effect. apple s stock is up; so is the broader market. apple shares fall; major averages drop, too. the world s most valuable company makes up nearly 5% of the s&p 500 index. thanks to apple s huge gain this year, the s&p is up 14%. on the other hand, the apple-less dow is up only 9%. and don t forget the tech-heavy nasdaq. apple accounts for 13% of the weighting in that index. thanks to the shine in apple shares, the nasdaq is up 19% this year. with apple s outsized influence on the market, a warm welcome for iphone 5 tomorrow might make more than apple shareholders happy. but some market pros say it s a stretch to think apple has kidnapped the stock market. i would not argue that, as apple goes, so goes the market. i think there s a lot of other sectors that we re also paying attention to. and granted, we ve been overweight the technology sector, but we re also overweight things like materials and the consumer
how the stock performs. reporter: it s known as the apple effect. apple s stock is up; so is the broader market. apple shares fall; major averages drop, too. the world s most valuable company makes up nearly 5% of the s&p 500 index. thanks to apple s huge gain this year, the s&p is up 14%. on the other hand, the apple-less dow is up only 9%. and don t forget the tech-heavy nasdaq. apple accounts for 13% of the weighting in that index. thanks to the shine in apple shares, the nasdaq is up 19% this year. with apple s outsized influence on the market, a warm welcome for iphone 5 tomorrow might make more than apple shareholders happy. but some market pros say it s a stretch to think apple has kidnapped the stock market. i would not argue that, as apple goes, so goes the market. i think there s a lot of other sectors that we re also paying attention to. and granted, we ve been overweight the technology sector, but we re also overweight things like materials and the consumer
screen to a panoramic camera. nevertheless, shares of apple dipped slightly today in advance of the announcement. and, as suzanne pratt reports, all investors should be watching how the stock performs. reporter: it s known as the apple effect. apple s stock is up; so is the broader market. apple shares fall; major averages drop, too. the world s most valuable company makes up nearly 5% of the s&p 500 index. thanks to apple s huge gain this year, the s&p is up 14%. on the other hand, the apple-less dow is up only 9%. and don t forget the tech-heavy nasdaq. apple accounts for 13% of the weighting in that index. thanks to the shine in apple shares, the nasdaq is up 19% this year. with apple s outsized influence on the market, a warm welcome for iphone 5 tomorrow might make more than apple shareholders happy. but some market pros say it s a stretch to think apple has kidnapped the stock market. i would not argue that, as apple goes, so goes the market. i think there s a lot
of the announcement. and, as suzanne pratt reports, all investors should be watching how the stock performs. reporter: it s known as the apple effect. apple s stock is up; so is the broader market. apple shares fall; major averages drop, too. the world s most valuable company makes up nearly 5% of the s&p 500 index. thanks to apple s huge gain this year, the s&p is up 14%. on the other hand, the apple-less dow is up only 9%. and don t forget the tech-heavy nasdaq. apple accounts for 13% of the weighting in that index. thanks to the shine in apple shares, the nasdaq is up 19% this year. with apple s outsized influence on the market, a warm welcome for iphone 5 tomorrow might make more than apple shareholders happy. but some market pros say it s a stretch to think apple has kidnapped the stock market. i would not argue that, as apple goes, so goes the market. i think there s a lot of other sectors that we re also paying attention to. and granted, we ve been overweight the
reporter: it s known as the apple effect. apple s stock is up; so is the broader market. apple shares fall; major averages drop, too. the world s most valuable company makes up nearly 5% of the s&p 500 index. thanks to apple s huge gain this year, the s&p is up 14%. on the other hand, the apple-less dow is up only 9%. and don t forget the tech-heavy nasdaq. apple accounts for 13% of the weighting in that index. thanks to the shine in apple shares, the nasdaq is up 19% this year. with apple s outsized influence on the market, a warm welcome for iphone 5 tomorrow might make more than apple shareholders happy. but some market pros say it s a stretch to think apple has kidnapped the stock market. i would not argue that, as apple goes, so goes the market. i think there s a lot of other sectors that we re also paying attention to. and granted, we ve been overweight the technology sector, but we re also overweight things like materials and the consumer discretionary sectors.