Apple stock tumbling … You may be surprised how much YOU own !

Apple’s stock has lost about 9% of its value since hitting its most recent all-time high of $644, and is on a week-long skid.

Even if you don’t own any AAPL sahres outright, if you’re holding any mutual funds or ETFs, you probably own a boatload.

For example, if you’re holding the PowerShares QQQ (QQQ), you’re holding a big slice of Apple … 17.5% is in AAPL/

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What’s the top holding in the SPDR S&P 500 (SPY)?

You guessed it, APPL …4.37% of the SPY

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Ditto for many of the most popular mutual funds.

For example, APPL is almost 10% of Fidelity’s Contrafund.

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A couple of other biggies:

  • Fidelity Magellan (FMAGX) … top stock … 6.24%%
  • American Funds Growth Fund of Amer A (AGTHX) … top stock … 4.85%

You get the picture, right?

Two major takeaways:

First, If you’re holding any popular ETfs or mutual funds — individually or in, say, 401-Ks — then you probably own a bunch od Apple.

Even more important, so many big dogs — ETFs and mutual funds — are so heavily invested in Apple that, as Apple goes, so will the market.

I’m surprised that more hasn’t be written about about Apple’s influence on the total stock market.

You might want to start worrying

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