Apple represents over 20% of the tech-heavy PowerShares QQQ, but its weighting will be reduced in an upcoming special rebalance of the Nasdaq-100, the ETF’s tracking index.
“With quarterly revenue growth of 83% and profit growth of 95%, we’re firing on all cylinders,” said Steve Jobs, Apple’s CEO, in the earnings release Wednesday. “We will continue to innovate on all fronts throughout the remainder of the year.”
PowerShares QQQ
