It is actually a drag on the tech stocks because Apple sucks up all the money.
Steve Jobs put the car in gear and hit the gas. The Apple truck is rolling at 200 mph down a mountain road surrounded with cliffs and trees.
Apple just made 13 billion dollars net last quarter. Do you think this is sustainable? of course not. Huge companies like Samsung are attacking Apple now. The idiots who pay too too much for an inferior phone will only do so as long as the Iphone is a popular fad. As soon as it becomes dull, the young people will switch to another phone that their dad does not like.
That is the way it is in pop culture. It is the way it always has been. Apple is a retail store. It relies upon pop culture to allow it to grossly over price its products for this astonishing net profit.
Intel will be around and making 6 billion net quarterly profits on a regular basis in three or four years. Do not be too shocked if Apple is making less than that in 4 years.
That is the nature of a pop craze. It will not fade away but instead it will burn up.
Apple knows this and will collect all the cash it can to reinvent itself again when the truck rolls off the road.