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Apple Moves to S&P 100

by , 8:40 AM EDT, May 31st, 2007

Apple Inc. is making the move to Standard & Poor's 100 index. The Mac and iPod maker will be added to the S&P 100 after trading closes on Thursday and will be replacing MedImmune which is being acquired by AstraZeneca, according to Forbes.

Apple stock took a hit after a faked report that the iPhone and Mac OS X 10.5 would be delayed. The stock recovered, however, after Apple confirmed that both products are still on schedule.

The company's stock has continued to steadily climb and set a new all-time high almost daily. Apple is currently trading in the pre-market at US$120.35, up 1.58 (1.33%).

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