Apple and Nvidia together represent 15.61% of the S&P 500, the largest combined weighting ever held by two stocks in the benchmark. Nvidia has an 8.21% weighting and Apple 7.40%, according to S&P 500 ETF holdings data dated September 23, surpassing the 9.1% record set by Microsoft and General Electric during the dot-com era. The index's 10 largest companies account for 38.69% of its value. Apple shares reached a record $345 after the launch of the iPhone 18 and iPhone Duo foldable device, while Nvidia projects fiscal-year growth of at least 70%; CEO Jensen Huang said expansion could exceed 100% if supply constraints ease. Both companies have gained strongly this year, although Apple faces slowing smartphone-market growth and Nvidia remains dependent on sustained AI infrastructure spending.