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At its annual California launch event, Apple (AAPL - Free Report) revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. The event took an unexpected turn in terms of pricing, with Apple maintaining its price range for most products, the notable exception being iPhone Max.
The event came just a few days after China imposed a ban on government officials using iPhones at work, leading to a sharp drop in Apple's market value by almost $200 billion. While Chinese pressure on Apple is a concern, it is expected to have a limited impact (read: What Lies Ahead for Apple ETFs After iPhone Use Ban?).
Given this, ETFs having the largest allocation to the tech giant are in focus. Technology Select Sector SPDR Fund (XLK - Free Report) , Vanguard Information Technology ETF (VGT - Free Report) , MSCI Information Technology Index ETF (FTEC - Free Report) , iShares US Technology ETF (IYW - Free Report) and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Insights Into the Features of the New Devices
iPhone 15 Series: Apple introduced its latest range of smartphones, including iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. The new set of iPhones is available in pink, yellow, green, blue, and black color options with 6.1 and 6.7-inch displays. The standout feature of this series is the shift to USB-C charging ports, adhering to new European Union regulations aimed at reducing e-waste. The revamped AirPods Pro will also sport this USB-C port.
iPhone 15 features a Super Retina XDR display and A16 Bionic chip, while iPhone 15 Pro introduces titanium construction and an A17 Pro chip. iPhone 15 starts at $799, with the iPhone 15 Plus slightly pricier at $899. For those seeking premium features, iPhone 15 Pro and Pro Max are priced at $999 and $1,199, respectively. Customers can start preordering from Sep 15, with the official release slated for Sep 22 (see:all the Technology ETFs here).
Apple Watch Innovations: The Apple Watch family saw new additions, including the Apple Watch Series 9 and the upscale Apple Watch Ultra 2. Both are available for pre-order now. While Apple Watch SE is available at a competitive rate of $249, Series 9 is priced at $399. Ultra 2 starts at $799.
The Apple Watch Series 9 boasts significant improvements, featuring the new S9 chip that Apple claims is 60% faster, coupled with a 30% faster GPU. Notably, new features include health data access with Siri, Name Drop for sharing information with nearby users, and Double Tap for watch control. In a move toward sustainability, Apple declared the Apple Watch Series 9 as its pioneer carbon-neutral product, showcasing the company’s commitment to the environment.
Technology Select Sector SPDR Fund targets the broad technology sector and follows the Technology Select Sector Index. It holds about 65 securities in its basket, with Apple making up 21.8% share. Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with AUM of $50.3 billion and an average daily volume of 6 million shares. The fund charges 10 bps in fees per year.
Vanguard Information Technology ETF manages about $52.5 billion in its asset base and provides exposure to 323 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, Apple accounts for a 22.7% share. Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 541,000 shares (read: Don't Fear Higher Rates: Tech ETFs to Rule on Nvidia & Allies).
MSCI Information Technology Index ETF is home to 311 technology stocks with AUM of $7.2 billion. It follows the MSCI USA IMI Information Technology Index. Apple accounts for a 22.3% allocation. MSCI Information Technology Index ETF has an expense ratio of 0.08%, while volume is solid at 226,000 shares a day.
iShares Dow Jones US Technology ETF tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, giving investors exposure to 135 U.S. electronics, computer software and hardware, and informational technology companies. Apple makes up 17.5% of the assets. iShares Dow Jones US Technology ETF has AUM of $11.2 billion and charges 40 bps in fees and expenses. Volume is good as it exchanges 912,000 shares a day.
Invesco QQQ (QQQ)
Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Apple accounts for a 10.8% share. Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $201.6 billion and an average daily volume of 46 million shares. It charges investors 20 bps in annual fees.
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Apple ETFs in Focus Post iPhone 15 Launch
At its annual California launch event, Apple (AAPL - Free Report) revealed a suite of devices, catching the eye of its vast consumer base and the global tech community. The event took an unexpected turn in terms of pricing, with Apple maintaining its price range for most products, the notable exception being iPhone Max.
The event came just a few days after China imposed a ban on government officials using iPhones at work, leading to a sharp drop in Apple's market value by almost $200 billion. While Chinese pressure on Apple is a concern, it is expected to have a limited impact (read: What Lies Ahead for Apple ETFs After iPhone Use Ban?).
Given this, ETFs having the largest allocation to the tech giant are in focus. Technology Select Sector SPDR Fund (XLK - Free Report) , Vanguard Information Technology ETF (VGT - Free Report) , MSCI Information Technology Index ETF (FTEC - Free Report) , iShares US Technology ETF (IYW - Free Report) and Invesco QQQ (QQQ) have Apple as the top or second firm with a double-digit allocation and carry a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Insights Into the Features of the New Devices
iPhone 15 Series: Apple introduced its latest range of smartphones, including iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max. The new set of iPhones is available in pink, yellow, green, blue, and black color options with 6.1 and 6.7-inch displays. The standout feature of this series is the shift to USB-C charging ports, adhering to new European Union regulations aimed at reducing e-waste. The revamped AirPods Pro will also sport this USB-C port.
iPhone 15 features a Super Retina XDR display and A16 Bionic chip, while iPhone 15 Pro introduces titanium construction and an A17 Pro chip. iPhone 15 starts at $799, with the iPhone 15 Plus slightly pricier at $899. For those seeking premium features, iPhone 15 Pro and Pro Max are priced at $999 and $1,199, respectively. Customers can start preordering from Sep 15, with the official release slated for Sep 22 (see:all the Technology ETFs here).
Apple Watch Innovations: The Apple Watch family saw new additions, including the Apple Watch Series 9 and the upscale Apple Watch Ultra 2. Both are available for pre-order now. While Apple Watch SE is available at a competitive rate of $249, Series 9 is priced at $399. Ultra 2 starts at $799.
The Apple Watch Series 9 boasts significant improvements, featuring the new S9 chip that Apple claims is 60% faster, coupled with a 30% faster GPU. Notably, new features include health data access with Siri, Name Drop for sharing information with nearby users, and Double Tap for watch control. In a move toward sustainability, Apple declared the Apple Watch Series 9 as its pioneer carbon-neutral product, showcasing the company’s commitment to the environment.
ETFs in Focus
Technology Select Sector SPDR Fund (XLK - Free Report)
Technology Select Sector SPDR Fund targets the broad technology sector and follows the Technology Select Sector Index. It holds about 65 securities in its basket, with Apple making up 21.8% share. Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with AUM of $50.3 billion and an average daily volume of 6 million shares. The fund charges 10 bps in fees per year.
Vanguard Information Technology ETF (VGT - Free Report)
Vanguard Information Technology ETF manages about $52.5 billion in its asset base and provides exposure to 323 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, Apple accounts for a 22.7% share. Vanguard Information Technology ETF has an expense ratio of 0.10%, while volume is solid at nearly 541,000 shares (read: Don't Fear Higher Rates: Tech ETFs to Rule on Nvidia & Allies).
MSCI Information Technology Index ETF (FTEC - Free Report)
MSCI Information Technology Index ETF is home to 311 technology stocks with AUM of $7.2 billion. It follows the MSCI USA IMI Information Technology Index. Apple accounts for a 22.3% allocation. MSCI Information Technology Index ETF has an expense ratio of 0.08%, while volume is solid at 226,000 shares a day.
iShares US Technology ETF (IYW - Free Report)
iShares Dow Jones US Technology ETF tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, giving investors exposure to 135 U.S. electronics, computer software and hardware, and informational technology companies. Apple makes up 17.5% of the assets. iShares Dow Jones US Technology ETF has AUM of $11.2 billion and charges 40 bps in fees and expenses. Volume is good as it exchanges 912,000 shares a day.
Invesco QQQ (QQQ)
Invesco QQQ provides exposure to the 101 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Apple accounts for a 10.8% share. Invesco QQQ is one of the largest and most popular ETFs in the large-cap space, with an AUM of $201.6 billion and an average daily volume of 46 million shares. It charges investors 20 bps in annual fees.