Apple (NasdaqGS: AAPL) has acted as shining beacon in the tech sector, providing some sense of stability in technology-related exchange traded funds.

Shares of Apple stocks jumped following a strong second quarter earnings result and on plans to offer an additional $30 billion in share buybacks. The company recently broke above the $600 level for the first time since late 2012.

Apple’s strength has also helped lift broad tech sector ETFs. The company makes up a significant weight in market capitalization-weighted tech ETFs. For instance, the iShares U.S. Technology ETF (NYSEArca: IYW) has the largest weight in AAPL shares at close to 18.0% of the overall portfolio.

Additionally, the tech ETF includes other old and established technology names, including a 10.0% weight in Microsoft (NasdaqGS: MSFT), 6.3% in International Business Machines (NYSE: IBM), 4.6% in Oracle (NYSE: ORCL), 4.5% in Qualcomm (NasdaqGS: QCOM) and 4.4% in Intel (NasdaqGS: INTC). [Your Grandparents Would Like This Tech ETF]

“IYW has a very high-quality portfolio–wide-moat and narrow-moat firms account for about 50% and 36% of the portfolio, respectively, meaning that Morningstar’s equity analysts believe that 86% of IYW’s assets are invested in firms with sustainable competitive advantages,” according to Morningstar analyst Robert Goldsborough.

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