Shares of Apple Inc. (NASDAQ: AAPL), the world's largest company by market value, are off nearly 9 percent over the past month and Tuesday's loss, just under 3 percent at this writing, comes after Apple violated its 200-day moving average and pre-earnings low on Monday.
That says Apple is experiencing ominous downside follow through and a close in the red would extend the stock's losing streak to five days. Surprisingly, Apple's almost 9 percent tumble over the past month is not pressuring the exchange traded funds with large weights to the iPhone maker's shares. ETFs such as the Technology Select Sector SPDR (NYSE: XLK) and the PowerShares QQQ (NASDAQ: QQQ) have been remarkably resilient in the face of Apple's recent struggles.
Just look at XLK, the largest and most heavily traded tech ETF. Even if the half percent loss the ETF has at this writing holds for the rest of the day, XLK will still be sporting a one-month gain of ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5733518/as-stock-falls-apple-etfs-arent-too-worried alt=As Stock Falls, Apple ETFs Aren't Too Worried>Full story available on Benzinga.com
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