The saving grace, if it can be called that, for the Nasdaq has been old school tech. While Internet and social media stocks have wilted, the stocks that were important contributors to the Nasdaq’s late 1990s glory have been stalwarts. [Old Tech Boosts These ETFs]
Over the past month, shares of Microsoft (NasdaqGS: MSFT), Intel (NasdaqGS: INTC), Cisco Systems (NasdaqGS: CSCO) and Qualcomm (NasdaqGS: QCOM) are up an average of 5.6%. Those stocks combine for nearly 18% of QQQ’s weight.
Nasdaq Composite
Chart Courtesy: Chart of the Day
ETF Trends editorial team contributed to this post. Tom Lydons’s clients own shares of Amazon, Microsoft, Cisco and QQQ.