For Apple, reporting their fiscal year third quarter results, analysts are projecting consensus revenues of $52.3 billion–a year-over-year increase of about 16%–its highest rate since October 2015. EPS consensus estimates are pegged at $2.18. Like Microsoft, Apple shares have climbed, gaining 27.4% the past year and 11.1% year-to-date.
Institutional Investor Activity
VGT is also experiencing activity from institutional investors, such as Beacon Capital Management and Daiwa Securities Group Inc. Per Fairfield Current, Beacon Capital “owned 1,194,885 shares of the exchange traded fund’s stock after selling 32,431 shares during the period. Vanguard Information Technology ETF comprises about 9.2% of Beacon Capital Management Inc.’s holdings, making the stock its 2nd largest holding. Beacon Capital Management Inc. owned approximately 1.05% of Vanguard Information Technology ETF worth $216,752,000 at the end of the most recent quarter.”
For more market trends, visit ETFTrends.com.