08:47 AM EDT, 09/20/2024 (MT Newswires) -- Apple ( AAPL ) is set to benefit from a $250 billion reshuffle as Friday's triple witching hits and technology is seen to be the only industry benefiting from the event, Bloomberg News reported, citing Piper Sandler data.

The tech sector, which Apple ( AAPL ) makes up the bulk of, is expected to rake in $40 billion of net buying, Bloomberg said.

The iPhone maker's weighting in key benchmarks is set to be increased after Warren Buffett's recent share sale, and Friday's quarterly rebalance is scheduled to reflect new S&P index-capping rules.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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