Tech ETF Temptation Despite Apple Downgrade
This article was originally published on ETFTrends.com.
The Technology Select Sector SPDR Fund (NYSEArca: XLK), the largest technology ETF by assets, and rival tech ETFs were pressured Monday after another analyst downgraded shares of Apple. Rosenblatt Securities, the second firm to issue a downgrade, changed their rating from “buy” to “neutral,” citing that higher iPhone prices won’t offset a weaker sales volume. [...]