Telecom ETFs (exchange traded funds)- look out! Apple Computers just got a new name, Apple Inc. and is branching out into the mobile phone industry. Rachel Conrad of the Associated Press reports the new phone, iPhone, will be released in June, starting at $499, and will run through the Macintosh operating system. The phone will play music, surf the internet and run through the Mac system, all controlled by touch. Apple expects to sell 10 million phones in 2008.
What ETFs could possibly be touched by this? Select Sector Technology SPDR (XLK) has 3.2% of Apple (AAPL). Not that Apple is in the telecom sector now, but with the new iPhone, who knows – Telecom ETFs include iShares Dow Jones US Telecom (IYZ) and iShares S&P Global Telecommunications (IXP).
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.