XLK Stock Recent News

Apple has reasonable chances to beat earnings estimates and saw a positive earnings estimate revision activity, which is generally a precursor to an earnings beat.

This week is packed with more than 100 corporate earnings, a Federal Reserve policy meeting and the job report data that may dictate the next moves for the stock market's rally.

The Technology Select Sector ETF has appreciated by over 20% since my last bullish publication and now trades at a little over $200. This time, my positive forecast on the tech ETF is based on top-holding Microsoft and other software plays likely to benefit from AI moving towards the exploitation or usage phase. XLK is undervalued compared to Microsoft and Nvidia, presenting a potential target price of roughly $223.

Tech stocks have outpaced all other S&P 500 sectors in the past three months as AI fervor continues to permeate markets. The Technology Select Sector SPDR Fund ETF could feature some volatility due to upcoming mega-cap tech earnings this week. XLK has a concentrated portfolio, with over 40% of the fund invested in Microsoft and Apple, and seasonal trends turn a bit softer over the coming weeks.

The S&P 500 has been hovering around an all-time high. The chart indicates that, on average, investments made at record highs tend to perform better over the next five years, as quoted on Yahoo Finance.

Microsoft (MSFT) overtook Apple (AAPL) as the world's most valuable company, with a market valuation of $2.888 trillion. The solid performance is expected to continue going into Q4 earnings, given its solid growth prospects.

Microsoft (MSFT) has emerged as the most valuable publicly traded company in the United States at the close of Friday's trading session, surpassing Apple (AAPL).

If you're interested in broad exposure to the Technology - Broad segment of the equity market, look no further than the Technology Select Sector SPDR ETF (XLK), a passively managed exchange traded fund launched on 12/16/1998.

The first week of trading in 2024 was marked by a sharp pullback in tech stocks, including the iShares U.S. Technology ETF. Goldman Sachs believes that the S&P 500 index will perform well this year, particularly the Magnificent 7 stocks. IYW's unique fund composition and diversification strategy give it a compelling advantage over its peers.

The New Year is almost upon us and, with it, the next earnings reporting cycle. The calendar Q1/fiscal Q4 cycle is expected to bring another quarter of growth for the S&P 500 NYSEARCA: SPY and may set it up for big gains in 2023.