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2023 was a year of surprises. These are five key sector themes illustrated in charts that dominated the ETF world this past year.
These ETFs deserve special thanks and attention going into the New Year too.
The latest 13-F filings of billionaires indicate that most are still bullish on big techs.
Communication Services Select Sector SPDR Fund enters correction territory due to a broader stock market selloff and Alphabet's plunge. Despite the dip, the communication services sector shows improving growth trends and strong earnings performance. The prospects for a rebound are high because the latest selloff isn't backed depleting fundamentals.
Alphabet reported its third-quarter 2023 earnings with its revenue and earnings beating the estimates. However, slow growth in its Google Cloud revenues which missed the estimates, dragged the shares of the tech giant.
Alphabet shares slumped on Oct 25 as the company's cloud revenues missed estimates. While the industry's challenge in developing and shaping AI infrastructure caused this weakness, the rebound could be seen in 2024.
The search engine behemoth Alphabet (GOOGL) is expected to report its earnings on Oct 24.
The XLC ETF has advanced more than 40% this year.
This year, communication services have benefitted from not just capital appreciation (the best-performing sector in the markets), but additional fund flows as well, pointing to a more abiding sentiment shift. We see how XLC stacks up against its next largest peer-VOX. We close with a few themes that could weigh on XLC's performance going forward.
Barbie, the iconic doll turned movie star, topped $1 billion at the global box office since its debut on Jul 21, marking a historic moment for the film industry.