Apple unbalances NASDAQ

Cupertino-based Apple makes up 20 percent of the Nasdaq-100 index and the exchange is to announce today that it’s going to “rebalance” things so that it will only represent 12 percent.

That’s according to the Wall Street Journal, which said that the shift in the scales is to happen on the second of May.

Apple (tick: AAPL) is heavily traded and its share price has risen by over four times in the last couple of years.

The Journal speculates that the change is likely to cause a rush of selling by mavens that follow the index. With a market cap of around $300 billion,  around double that of Google, Apple’s 12.3 percent share after the second of May will give a boost to 16 other companies’ weightings, including Microsoft.

The Journal says that Microsoft’s weighting will rise from 3.4 percent to 8.3 percent after the move.