ETF Outlook for the Week of May 26, 2014
SPDR Technology ETF (NYSE: XLK)
Investors and analysts alike have been pounding the table insisting that the high-flying technology stocks are dead. While it may be true that a handful of them suffered a minor setback in the last two months, overall the technology sector has been stronger than ever.
XLK is a basket of 73 stocks that is highlighted by old-school names such as Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Verizon (NYSE: VZ). The ETF is diverse with its holdings spread throughout the technology landscape.
Last week the ETF gained 1.8 percent and closed at the highest level in 13 years. The ETF is on a buy signal and should continue to see higher prices in the months ahead.
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