Big Tech Powers S&P 500's Best Week of 2024: 5 ETF Winners [Yahoo! Finance]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: Yahoo! Finance
The surge was driven by a rally in big tech stocks, especially Alphabet GOOGL and Microsoft MSFT, which reignited confidence about AI growth following their blowout first-quarter earnings. The surge came in the same week when Meta Platforms META dampened the market mood after issuing weak revenue guidance and predicting higher capital expenses for 2024 (read: Forget Meta-Led Slump: 3 Reasons to Buy Tech ETFs on the Dip). While most of the ETFs saw smooth trading last week, we have highlighted five tech ETFs that have outperformed, gaining in double-digits. These include Global X Blockchain ETF BKCH, VanEck Vectors Digital Transformation ETF DAPP, iShares Blockchain and Tech ETF IBLC, Invesco PHLX Semiconductor ETF SOXQ and SPDR S&P Semiconductor ETF XSD. Snapshot of Alphabet Earnings Alphabet rose 10%, its biggest one-day jump since July 2015, and topped $2 trillion in market cap for the first time since November 2021. The strong performance came following its robust quarterly
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- 5/2/24 - Beat
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- AAPL's page on the SEC website