Never mind what the Federal Reserve has in store for the economy — techies and technology exchange traded fund observers are waiting on the next big Apple (NasdaqGS: AAPL) iPhone launch.
Apple dominates many ETFs tracking Nasdaq-listed stocks and the tech sector. The stock is trading near an all-time high and bulls are hoping the iPhone launch will fuel another breakout.
On Sept. 12, Apple will unveil its iPhone 5 device. The iPhone series has been the best profit generating product for the company over the past year, reports Evan Niu for The Motely Fool.
The iPhone generated $74.3 billion in sales for the trailing 12-month period, or 50% of total revenue. Meanwhile, the iPad generated 21% in overall revenue and the Mac brought in 15% of total profits. [ETF Chart of the Day: Nasdaq-100]
The Apple smartphone has been up against stiff competition against the Samnsung’s Android-powered Galaxy S III, which was the top-selling smartphone in August – new iPhone purchasers were holding off in hopes of upgrading to the newer version.