“Apple shares were sinking ahead of its earnings report Tuesday after the bell, but if you’re looking for a way to play the stock into the results, the ETF market offers hundreds of ways to do it,” Lizzy Gurdus reports for CNBC. “Yes, you read that right. Apple stock can be found in 253 exchange-traded funds, which include the Technology Select Sector SPDR Fund, or the XLK, the Fidelity MSCI Information Technology Index ETF, or FTEC, and the Invesco QQQ Trust.”
“It’s especially important for ETFs that allocate large portions of their portfolios to Apple’s stock,” Gurdus reports. “The XLK and FTEC, for example, each weigh Apple as over 15% of their holdings. ‘A lot of this, really, is pick your ETF based upon your view of Apple,’ Tim Seymour, founder and chief investment officer at Seymour Asset Management, said Monday on CNBC’s ETF Edge. ‘Ultimately, when you think about the QQQ ETF, which [tracks] the Nasdaq 100, and you still have Apple as only 10% of that weighting, you better have a view on Apple going into earnings.'”
“That view — slightly more of a bird’s-eye perspective than the heavily-Apple-weighted XLK or FTEC — may also help reduce some of the risk tied to Apple’s next report. But risk is a lesser concern for Seymour, who is bullish on Apple,” Gurdus reports. “‘I’m long Apple,’ said Seymour, who also appears on CNBC’s Fast Money as a trader.”
Read more in the full article here.
MacDailyNews Note: As always, we’ll bring you Apple’s earnings results as soon as they are available, right around 4:30pm EDT today.