Tech ETFs: Sentiment Turns on a Microchip | ETF Trends

It wasn’t long ago (as recently as a few days ago, in fact) that analysts and the markets were feeling mighty bearish about tech exchange traded funds (ETFs). This morning, sentiment has seemingly turned on a microchip.

Take a look:

  • Oracle (NASDAQ: ORCL), a huge business software-maker, reported Thursday evening that its fiscal first-quarter profits jumped 20%. [Why Tech ETFs Are Down But Not Out.]
  • Blackberry-maker Research in Motion (NASDAQ: RIMM) also posted a surge in quarterly profit and revenue.
  • Cisco (NASDAQ: CSCO) announced it would begin paying a dividend before July 31, 2011.
  • Hewlett-Packard (NYSE: HPQ) is going on a shopping spree, snapping up 3Par and Acrsight.

The reports indicate that U.S. consumers and businesses may be spending again – at least on technology. The news is certainly welcome and should counteract August’s bearish sentiment toward the sector, reports Neil Shah for The Wall Street Journal. [Why Tech ETFs Are Up As Bears Come Out.]

For more stories about the technology sector, visit our tech ETFs page. Visit the ETF Resume page for these tech funds below to find the companies mentioned above; many of them are significantly weighted in these ETFs:

  • Technology Select Sector SPDR (NYSEArca: XLK)
  • iShares Dow Jones U.S. Technology (NYSEArca: IYW)
  • Vanguard Information Technology (NYSEArca: VGT)
  • PowerShares QQQ Trust (NASDAQ: QQQQ)

Tisha Guerrero contributed to this article.

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.