ETF Explainer: XLK
The Technology Select Sector SPDR Fund saw some key turning points
Each month, we look at an ETF selected by ETF.com based on its performance and importance to investors. This month, we consider the performance of the $23 billion Technology Select Sector SPDR Fund (XLK), which tracks the technology sector of the S&P 500. All the companies mentioned below are holdings in XLK, unless otherwise noted (*).
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NOV 7 Microsoft is one of the stocks leading the market higher in the wake of the midterm elections in which the Democrats retook the House, and Republicans maintained their Senate majority
JAN 23 IBM disappointed in its fourth-quarter report when it came to revenue, but expectations for strong profits in 2019 from its high-growth business lines cause its stock to jump.
MAY 13 Apple stock falls sharply as the U.S.-China trade war ramps up. The company assembles its iPhones in China and has significant sales of its products in the country.
JUN 20 Adobe reports record revenue for the 17th quarter in a row, breezing past both in-house and consensus expectations and causing a jump in share price.
AUG 15 Cisco Systems stock plunges after its fourth-quarter report reveals the company took a hit from the trade war and expresses weak expectations for the next quarter.
SEP 13 Shares of Mastercard slide, along with other payment companies, as investors rotate into safer stocks and shun growth stocks with high multiples.
Source: Bloomberg. Data for 09/30/2018 to 09/30/2019.