Apple (NASDAQ: AAPL) is the largest company in the world -- worth nearly $3 trillion -- and many investors own a lot of its stock whether they know it or not. That's because Apple makes up 11.2% of the Nasdaq 100 and 7.3% of the S 500. If Apple doesn't do well, it will be a significant drag on these indexes, and investors across the board will see sub-par results.
On the flip side, if Apple does well, almost everyone else will, too. But here's the question: Is it worth buying additional shares of Apple if so many investors are already heavily weighted to it through their ownership of an index fund?
Apple likely needs no introduction, as many in the U.S. already have an iPhone or a Mac computer. But what many people may not be aware of is Apple's service division, which generates revenue from the App Store, advertising, cloud services, and subscription products like Apple Music and Apple TV+. While some may consider this a necessary add-on, it has been a notable bright spot in Apple's fiscal 2023 (which ended Sept. 30).
Source Fool.com