Nasdaq 100 ETF rallies to 6 1/2-year high, with help from Apple, Google, RIM |
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Tue, 23 Oct 2007 20:08
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NEW YORK (Thomson Financial) - The QQQQs, a tracking stock for the Nasdaq 100 Index, rallied to a 6 1/2-year high Tuesday, as 3 of the ETF's 10-most heavily weighted components ran up to all-time highs.The Nasdaq 100 tracker (QQQQ) was last up 1.9% at $54.02, the highest price seen since February 2001. The QQQQs have now gained 14% over the past 2 months and 25% since the end of 2006.Apple Inc. is the most-heavily weighted component as of Oct. 22 with a weighting of 11.74%, which is more than double second-place Microsoft Corp.'s weighting of 5.46%. Apple was up 7.7% at an all-time high of $187.75 after reporting better-than-expected results.Microsoft, a component of the Dow industrials as well, was up 1.1% at $30.83Internet search giant Google Inc., which is third in the QQQQs with a 5.12% weighting, was running up 3.7% to an all-time high of $674.98.Research in Motion, which is sixth in the QQQQs with a 3.52% weighting, rallied 11% to an all-time high of $126.29 after Alcatel-Lucent announced an agreement to distribute RIM's BlackBerry smartphones in China.Tomi Kilgoretk1COPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Ballmer zings Google 