The Technology Select Sector SPDR (XLK) exchange traded fund (ETF) has survived the volatility better than many other ETFs lately. Currently it’s up 11.9% year-to-date.
Some of XLK’s holdings include Hewlett-Packard (HPQ) and Dell (DELL). Dell reported strong sales during the second quarter, which could be one of the reasons why the ETF has managed to stay above its long-term trend line all year. In fact, Dell had the highest revenue growth in storage systems sector for the second quarter of 2007, according to market research firm IDC. Although its competitor, Hewlett-Packard’s, storage revenue growth dropped, it’s still one of the world’s top storage vendors, reports the Nashville Business Journal.
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.