Apple shares rose 4% in premarket action Thursday.

The stock was set to boost technology ETFs including PowerShares QQQ (NasdaqGM: QQQ), which has more than 20% in Apple, although its weighting will decline as a result of an upcoming rebalance of the tracking index, the Nasdaq-100.

PowerShares QQQ rallied more than 2% on Wednesday following upbeat earnings from tech companies including Intel (NasdaqGS: INTC). The Nasdaq Composite Index enjoyed its best day in six months while the Dow Jones Industrial Average rose to a recovery high.

PowerShares QQQ