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Apple, IBM: Mixed News for Tech ETFs

Monday kicked off earnings week for a slew of tech companies. Despite the tech sector's generally poor market performance this year, some experts think technology will be a bright spot in these tough times. If so, it will be important to keep an eye out for related exchange traded funds (ETFs).
  • Perhaps among the most eagerly awaited earnings were those of Apple (Nasdaq: AAPL  ) , which did not disappoint. The tech giant said net income [rose] 78% on the strength of both the iPad and the iPhone.
  • One bellwether for the tech industry has been IBM (NYSE: IBM  ) . According to Larry Dignan of ZDNet, IBM reported Q2 earnings on Tuesday of $2.61 a share, beating analyst estimates of $2.58 a share.
  • Singh does cite a strong IT spending environment in the United States and Asia. In the near term though, he expects Q3 guidance to dominate investor focus.

If consumers continue to spend on high-margin Apple products and companies continue to upgrade their technology infrastructure, the tech sector may have the potential to lead the market out its doldrums. [The Bright Future for Solar ETFs.]

Sumin Kim contributed to this article.

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