Worried About the Markets? This Tech ETF Is Up Over 25% This Year and Could Still Go Higher.
The stock market has been falling in recent weeks, and many tech stocks have been performing especially poorly. Since the start of the year, the S&P 500 is now down more than 4%. And the Technology Select Sector SPDR Fund, which tracks the tech sector of the broad index, has plummeted by around 9%. High valuations in tech have been a problem for a while, and soaring expectations related to artificial intelligence (AI) certainly don't help.However, not all tech stocks are struggling. There's even a tech-focused exchange-traded fund (ETF) that's doing incredibly well this year, up more than 25%. And best of all, it has the potential to go even higher. The fund I'm talking about is the Invesco China Technology ETF (NYSEMKT: CQQQ).^SPX data by YCharts.Continue reading
The stock market has been falling in recent weeks, and many tech stocks have been performing especially poorly. Since the start of the year, the S&P 500 is now down more than 4%. And the Technology Select Sector SPDR Fund, which tracks the tech sector of the broad index, has plummeted by around 9%. High valuations in tech have been a problem for a while, and soaring expectations related to artificial intelligence (AI) certainly don't help.
However, not all tech stocks are struggling. There's even a tech-focused exchange-traded fund (ETF) that's doing incredibly well this year, up more than 25%. And best of all, it has the potential to go even higher. The fund I'm talking about is the Invesco China Technology ETF (NYSEMKT: CQQQ).
