Technology sector exchange traded funds are in the spotlight this week as tech giants go under the microscope, revealing fourth quarter results.
Following a rough start to the new year, a number of key earnings reports will help provide better insight into how the tech sector will do ahead.
So far this year, the PowerShares QQQ (NasdaqGM: QQQ), which tracks the Nasdaq-100, fell 7.2%. Additionally, the Technology Select Sector SPDR (NYSEArca: XLK) dropped 5.7%, iShares U.S. Technology ETF (NYSEArca: IYW) decreased 7.3% and Vanguard Information Technology ETF (NYSEArca: VGT) declined 7.4%.
Looking ahead, these tech ETFs’ top components will be revealing fourth quarter earnings for the week ahead.
Apple (NasdaqGS: AAPL) will announce earnings after market close Tuesday, January 26. Investors have grown increasingly concerned over the company’s iPhone sales growth, especially with China experiencing an economic slowdown. ETF investors will also have to keep a close eye on AAPL as the company makes up double-digit weights in most broad tech-sector ETFs
Facebook (NasdaqGS: FB) is slated to reveal earnings after the close on Wednesday, January 27. Investors will get a glimpse into how the company’s Instagram acquisition is doing for its ad revenue business.