Tech ETFs Get a Boost as Apple Becomes World’s First $ 2 Trillion Company

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Exchange Traded Fund with Big Bets on Apple Inc. AAPL,
+ 0,61%
rebounded on Wednesday when the tech giant added 1.1% and became the first company to cross $ 2 trillion in market cap. The SPDR Technology Select Sector XLK fund,
+ 0,15%,
with 24.3% of its holdings in Apple stocks, jumped 0.6% in the early afternoon, edging out the larger stock SPX,
-0,14%
and the technology-driven Nasdaq Composite COMP Index,
-0,23%,
which was up 0.3%. Other ETFs hold equally large stakes in Apple: Fidelity Covington Trust MSCI Information Technology FTEC,
+ 0,09%,
with more than 22% invested in Apple, increased 0.5%, while the iShares Trust US Technology ETF IYW,
+ 0,15%,
with a stake of 21.4%, jumped 0.7%. Over the past three months, those funds have all posted gains of around 22%, while Apple shares have risen nearly 50%.

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