Conference Call 1PM—Thoughts on Tech After Friday & Into Russell Rebalance

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Conference Call 1PM—Thoughts on Tech After Friday & Into Russell Rebalance

USA | Equity Strategy EquityJuneResearch8, 2026

STRATEGY NOTEConference Call 1PM—Thoughts on Tech After

Friday & Into Russell Rebalance

It's always a good time to check in with Jeff Favuzza, JEFs Tech specialist, but Mag 7 will see large weight changes from

rebalancing

even more important after last week. Jeff touches base on what he is seeing Weight Changes

across the group from a trading perspective, as well as on what our analysts Symbol Company Name R1G R1V

AAPL Apple Inc. -4.84 5.72

are discussing. With SpaceX coming, Jane will discuss Mega-Cap IPOs and the AMZN Amazon.com -4.18 4.20

sources of funding. Also talks index inclusion. Semis weight >25% in new R1G, GOOG Alphabet Class C 2.15 -1.84

may be an issue for some folks, we look for substitutions. GOOGLMETA AlphabetMeta PlatformsClass A 2.650.17 -2.28-0.03

MSFT Microsoft -3.87 4.35

Hosting conference call today at 1PM ET, joined by our Tech specialist, Jeff Favuzza and Jane NVDA NVIDIA 1.53 0.00

Gibbons: Jeff will have much to talk about given what we saw last week across the group, and TSLA Tesla, Inc. 0.27 0.00

can debate/discuss with Jane the potential impact of the Mega-Cap IPOs set for market in the .Source:As of: JuneFactSet;5, 2026.FTSE Russell; Jefferies

upcoming days/months.

Register for the call using the LINK.

Jeff will try to contextualize the rationale for the Friday session:

Positioning—The backdrop heading into Friday was one where equity and tech positioning levels

were sitting right at multi-year highs, S&P up 9 weeks in a row, and Semis up ~70% heading into last

week on a 2-month basis. Macro—A bit of a hotter jobs report, 10-year yields back above 4.50%.