Tech Sector ETFs Wrap A Positive Week (QQQ, XLK, AAPL, MSFT, GOOG)

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Tech Sector ETFs wrap up an impressive week by closing in the green

Tech Sector ETFs including the PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ) and the Technology SPDR ETF (NYSEARCA:XLK) closed higher today to wrap up a stellar week led by tech sector giant Apple Computer (NASDAQ:AAPL).

Both NASDAQ:QQQ and NYSEARA:XLK registered monster gains this week led by Apple Computer’s (NASDAQ:AAPL) earnings report, which indicated that earnings had doubled compared to Q4 2010 and that sales had increased by 70%.  The tech sector liked this news so much that the NASDAQ reached its 11 year high on Wednesday.  The tech sector surge had begun last week despite Google’s (NASDAQ:GOOG) disappointing earnings.  Microsoft (NASDAQ:MSFT) however, reported excellent earnings later last week and then Apple (NASDAQ:AAPL) eclipsed all expectations this week.  The Fed’s announcements also likely added to the surge, as the idea of really cheap money sparked an enormous stock market party of which NASDAQ:QQQ and NYSEARCA:XLK joined in.

Tech Sector ETF Summary:

1. PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ): +0.18 (0.30%)
2. Technology SPDR ETF (NYSEARCA:XLK): +0.02 (0.07%)

Bottom Line:  We will see how long the tech sector euphoria continues as the fourth quarter earnings season begins to wind down.  NASDAQ:QQQ and NYSEARCA:XLK had a great few weeks regardless.

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Disclaimer: Wall Street Sector Selector trades a wide variety of ETFs and positions can change at any time.