The iShares S&P Global Technology (IXN) exchange traded fund (ETF) could see some movement now that some of its biggest shares have seen an increase in their performance. Apple (AAPL) and Google (GOOG) hit new highs today as investors showed ongoing confidence in the companies’ stocks, reports the Associated Press. Currently, IXN is up 13.0% year-to-date.
Part of Apple’s success is thanks to its partnership with AT&T (T) in launching the iPhone. Apple is the seventh largest holding in IXN at 4.0%. Meanwhile, Google’s stocks rose 1.4% after the company announced Friday that it is seeking approval from European Union regulators to purchase the online advertising company DoubleClick. Google is IXN’s eighth largest holding at 3.7%. Microsoft (MSFT), IXN’s top holding at 8.2%, rose 2.9% today as investors eagerly await the release of "Halo 3," the third in a series of a popular video game. Another factor that could help boost IXN is Apple’s recently-announced partnership with Starbucks (SBUX) to give away millions of songs via downloading, reports Reuters.
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.