Apple Casts Huge Shadow in Tech ETFs
April 24th at 4:36pm by John Spence
Apple (NasdaqGS: AAPL) helped fuel the rally in technology exchange traded funds (ETFs) last week with glittering quarterly results, but the company’s shortfall in sales targets on the iPad could lead some investors and analysts to scale back their high expectations, according to a report Sunday.
Apple will see difficult year-over-year comparisons in coming quarters while its sharp revenue growth may be hard to maintain, Reuters reported.
“They are going to have comparison issues on the growth side,” said Michael Walker, portfolio manager at WP Stewart, according to the report. “They can’t grow 83% forever. There’s no way.”
Apple shares rose over 2% on Thursday.
Technology Select Sector SPDR Fund
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