The technology-heavy NASDAQ-100 Index is higher by more than 5% over the past month and with a spate of big earnings reports expected in the coming days, the technology sector and its relevant exchange traded funds could be poised for more near-term upside.
Recent ebullience towards tech ETFs is represents a rapid reversal of fortune. Just a few weeks ago, investors were worried about the impact Brexit could have on technology, the S&P 500’s largest sector allocation. Speculation that Great Britain’s decision to depart the European Union could weigh on technology stocks comes just a few weeks after chip stocks and ETFs started showing signs of leadership.
Related: 46 Tech ETFs to Tap Into Big Growth Names
Exchange traded fund investors who are interested in tapping into the big growth names from the technology space have a number of broad and focused sector-specific ETF options to choose from. The Vanguard Information Technology ETF (NYSEArca: VGT) is a popular, cost-efficient avenue for investors looking for technology exposure via ETFs. Additionally, VGT has one of the largest weights to Apple Inc. (NasdaqGS: AAPL) among all ETFs.
Earlier this year, Apple (NasdaqGS: AAPL) ended a 13-year earnings winning streak and reported its first ever decline in iPhone sales. Along with Facebook (NasdaqGS: FB) and Google parent Alphabet (NasdaqGS: GOOG), both of which are also major holdings in VGT, Apple reports earnings next week.
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