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The AI frenzy emphasized the significance of the extensive opportunities within the AI ecosystem. As a result, investors are leaving no stone unturned to tap the AI ecosystem in every form.
On this week's episode of ETF Prime, host Nate Geraci spoke with Roxanna Islam, CFA, CAIA, head of sector & industry research at VettaFi. Islam and Geraci discussed a tech ETF rebalance and gave an outline for what to expect for spot ether ETFs.
Technology sector has outperformed since October '23, but recently saw extreme divergence with a gain of over 9% while other sectors dropped. XLK underwent quarterly rebalancing, reducing Apple's weight while increasing Nvidia's, leading to instability in the sector. XLK's correction may stabilize, with key levels at $221.95 and $217.72 determining future momentum.
Technology Select Sector SPDR Fund (XLK) is poised for a big rebalance this week. This shake-up will increase the exposure to NVIDIA Corp. (NVDA) at the expense of Apple Inc. (AAPL).
Investors maintained their bullish stance on stocks for the seventh consecutive week, pouring $4.6 billion into U.S. equity funds. U.S. technology stocks recorded their largest weekly inflows last week in nine weeks, with the sector seeing a revival after its mega-cap-led rally lost steam by the end of May, per strategists at BofA Global Research, as quoted on MarketWatch.
I'm a former stock analyst responsible for publishing on communications services and information technology stocks. While I don't miss covering multiple earnings calls in a day, I appreciate how these quarterly updates impact the returns of equity ETFs.
The technology sector has been one of the best performers with strong earnings growth and a high ratio of earnings beats. The Technology Sector Select SPDR has a low expense ratio compared to competing products, resulting in potential long-term savings. The concentration of the ETF in a few top holdings and the high valuation of the tech sector are potential concerns for investors.
The Technology Select Sector SPDR ETF (XLK) was launched on 12/16/1998, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Broad segment of the equity market.
Apple beat estimates on both earnings and revenues, and unveiled a record share buyback program amid the steep decline in iPhone sales.
With April turning out downbeat, Wall Street will be striving hard to make an ascent in May, but the operating environment is not all smooth this time around.