|Bid||0.00 x 1000|
|Ask||0.00 x 2900|
|Day's Range||69.58 - 70.00|
|52 Week Range||54.25 - 71.34|
|PE Ratio (TTM)||23.37|
|Expense Ratio (net)||0.14%|
After two tumultuous months, the technology sector is once again at the heart of the market rally given a deluge of upbeat earnings results. This is especially true as the ultra-popular Technology Select Sector SPDR Fund (NYSEARCA:XLK) has gained 5.1% in a month versus gains of 2.2% for SPDR S&P 500 ETF (NYSEARCA:SPY) and 4.7% for PowerShares QQQ Trust (NASDAQ:QQQ).Source: Shutterstock
Billionaire investor David Tepper’s largest holdings suggest his company, Appaloosa Management, has an optimistic view on the technology sector (XLK). Appaloosa’s top sells in the first quarter were Apple (AAPL), the PowerShares QQQ ETF (QQQ), the iShares MSCI Emerging Markets ETF (EEM), the Financial Select Sector SPDR ETF (XLF), and Energy Select Sector SPDR ETF (XLE) call options, changing its holdings by 7.2%, 7.1%, 4.0%, 2.5%, and 1.4%, respectively.
Among high-volume sectors, the technology market, overall, has been unusually choppy. The benchmark Technology Select Sector SPRD Fund (NYSEARCA:XLK) was down more than 3% at one point. As we entered the spring season, it wasn’t clear which direction tech stocks would take.
The S&P 900 Growth and S&P 900 Pure Growth indexes have three-year annualized returns of 13% and 9.7%, respectively. They have five-year annualized returns of 15% and 12.7%, respectively. They have YTD (year-to-date) returns of 5.4% and 6.1%, respectively.
Index providers Standard & Poor's and MSCI previously announced the creation of the communication services sector, an expanded, refreshed look at the old telecommunications sector. On Thursday, S&P Dow Jones Indices said the Communication Services Select Sector Index is up and running. As the communication services sector comes to life, big changes are coming for some well-known consumer discretionary and technology exchange traded funds, including the Consumer Discretionary Select Sector SPDR (XLY) and the Technology Select Sector SPDR (XLK) .
Last year, Standard & Poor's (S&P) and MSCI Inc., two of the largest providers of indexes for use by issuers of exchange-traded funds (ETFs), said that the telecommunications sector was getting a new look. S&P Dow Jones Indices confirmed Thursday that the Communication Services Select Sector Index, the first benchmark dedicated to the new communications services sector, is live. With telecom transforming to communications services, big changes are in store for the sector classifications of some big-name stocks as well as some well-known sector ETFs.
Legendary billionaire investor George Soros made some changes in his firm, Soros Fund Management LLC’s, portfolio in the first quarter. According to the institutional ownership report, Vanguard Group was the first largest investor in Amazon with 28.5 million shares in 1Q18. Amazon is trading with higher price-to-earnings multiples, largely supported by strong revenue growth.
A gain of 12.18% in 2018 for shares of Baidu, Inc. ( BIDU) has been helped by healthy institutional accumulation (buying). Baidu has been one of the best performing stocks over the past decade, with monster sales and earnings growth. Taking a look at how the shares have been trading over the past year, the gains Baidu has seen have shown share prices increasing alongside volume increases.
Nvidia Corporation’s (NASDAQ:NVDA) 12-month stock performance has been inspiring but not without a few dips like the one in early April. While the stock market is still in a bullish phase leader stocks like NVDA will continue leading. Coming into the earnings report, Nvidia stock was up 30% while the S&P 500 is flattish.
A gain of 46.25% year to date (YTD) in 2018 for shares of SolarEdge Technologies, Inc. ( SEDG) has been due in part to institutional accumulation. SolarEdge’s shares have been one of the best performing stocks over the past year, and looking at how the shares have been trading (share price increasing as volume increases), it should come as no surprise. With solar power usage growing year after year, SolarEdge is in a prime position to benefit from much of that growth.
Prior to sharing his views on market movement and potential market risks in an interview with CNBC, legendary billionaire investor Bill Miller shared his views on Facebook (FB). Whereas Miller is still optimistic on Facebook (FB), billionaire investor Jeffrey Gundlach is shorting Facebook, as he believes the company’s recent data breach issue has diminished its reputation among consumers and investors.
Keith Parker, UBS, reverses his tech call. Tech is back, with CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, David Seaburg and Guy Adami.
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Yahoo Finance's Jared Blikre and Alexis Christoforous break down the latest market moves.
Alan Valdes of Silverbear Capital joins Yahoo Finance's Jen Rogers from the floor of the New York Stock Exchange to discuss the latest market moves.