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The Zacks Analyst Blog Highlights Vanguard Information Technology ETF, MSCI Information Technology Index ETF, iShares US Technology ETF, iShares Russell Top 200 Growth ETF and Vanguard Mega Cap Growth ETF
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For Immediate Release
Chicago, IL – September 10, 2024 – Zacks.com announces the list of stocks and ETFs and featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: Vanguard Information Technology ETF (VGT - Free Report) , MSCI Information Technology Index ETF (FTEC - Free Report) , iShares US Technology ETF (IYW - Free Report) , iShares Russell Top 200 Growth ETF (IWY - Free Report) and Vanguard Mega Cap Growth ETF (MGK - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Apple Gears Up for Glowtime Event: ETFs in Focus
Apple’s “It’s Glowtime” event is due to take place at the iconic Steve Jobs Theater in Cupertino today. The technology giant is set to unveil the iPhone 16 series smartphones and other major products, including a new version of AirPods and three new Apple Watches.
Ahead of the event, ETFs having the largest allocation to the tech titan are in focus. These ETFs have Apple as the top or second firm with a double-digit allocation. These ETFs have a Zacks ETF Rank #1 (Strong Buy) or 2 (Buy).
Insights into the Potential Launch
iPhone 16: Apple is projected to release four versions of the iPhone 16 series — the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and the iPhone 16 Pro Max. All the models will feature generative AI capabilities as the tech behemoth looks to bolster sales of its iconic device. The iPhone 16 and the iPhone 16 Plus are expected to be powered by the A18 Bionic chip, while the iPhone 16 Pro and iPhone 16 Pro Max may come with the A18 Pro chip.
The iPhone 16 and 16 Plus are likely to get a major performance boost with the addition of the Apple A18 chipset and a base 8GB RAM variant (up from 6GB last year). Meanwhile, the new iPhone 16 Pro models are likely to be powered by the A18 Pro chipset with support for 8GB of RAM. They are also likely to get an improved Neural Engine, which is likely to be a big marketing strategy for Apple to show off its AI capabilities (read: Tech ETFs That Won Amid NVIDIA-Led Tech Rout).
Rumors also suggest that there could be a new touch-sensitive “Capture Button,” which could make its debut on the iPhone 16 Pro variants. Apple is also likely to introduce a new gold titanium color this year, replacing last year's blue titanium variant.
AirPods: Apple is expected to replace the AirPods 2 with an entry-level AirPods 4 variant, featuring a modern design and improved audio capabilities. Apple might also replace the 2021 AirPods 3 with a higher-end AirPods 4 variant. Both new AirPods models are expected to feature a similar design. The higher-end model is expected to keep the AirPods 4 tag, while the entry-level model may get rebranded as “AirPods Lite.”
Apple Watch: Apple is expected to debut the new Apple Watch Series 10 at the event, along with the Apple Watch Ultra 3. Speculations are also buzzing that Apple may also launch a more affordable third-generation Apple Watch SE.
Solid Fundamentals
Apple boasts the world’s highest stock market valuation, at nearly $3.3 trillion. It has seen a positive earnings estimate revision of a couple of cents for the current fiscal year (ending September 2024) and three cents for the next fiscal over the past 30 days.
Apple currently has an average brokerage recommendation (ABR) of 1.13 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 40 brokerage firms. Of the 40 recommendations deriving the current ABR, 36 are Strong Buy and three are Buy. Strong Buy and Buy, respectively, account for 90% and 7.5% of all recommendations.
Based on short-term price targets offered by 38 analysts, the average price target for Microsoft comes to $499.58. The forecasts range from a low of $375.00 to a high of $600.00.
Currently, Apple carries a Zacks Rank #3 (Hold) and a Growth Score of B, suggesting that the iPhone maker is primed for growth. Apple stock is cheap, trading at a P/E ratio of 32.97 compared with Amazon’s (AMZN) 36.13 times, and Netflix’s (NFLX) 34.89 times (see: all the Technology ETFs here).
ETFs in Focus
Vanguard Information Technology ETF - Apple accounts for a 17.2% share.
MSCI Information Technology Index ETF - Apple accounts for a 17.5% share in the basket.
iShares US Technology ETF -Apple makes up 16.7% of the assets.
iShares Russell Top 200 Growth ETF - Apple accounts for a 14% share in the basket.
Vanguard Mega Cap Growth ETF - Apple accounts for 13.4% of the total assets
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Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Vanguard Information Technology ETF, MSCI Information Technology Index ETF, iShares US Technology ETF, iShares Russell Top 200 Growth ETF and Vanguard Mega Cap Growth ETF
For Immediate Release
Chicago, IL – September 10, 2024 – Zacks.com announces the list of stocks and ETFs and featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: Vanguard Information Technology ETF (VGT - Free Report) , MSCI Information Technology Index ETF (FTEC - Free Report) , iShares US Technology ETF (IYW - Free Report) , iShares Russell Top 200 Growth ETF (IWY - Free Report) and Vanguard Mega Cap Growth ETF (MGK - Free Report) .
Here are highlights from Monday’s Analyst Blog:
Apple Gears Up for Glowtime Event: ETFs in Focus
Apple’s “It’s Glowtime” event is due to take place at the iconic Steve Jobs Theater in Cupertino today. The technology giant is set to unveil the iPhone 16 series smartphones and other major products, including a new version of AirPods and three new Apple Watches.
Ahead of the event, ETFs having the largest allocation to the tech titan are in focus. These ETFs have Apple as the top or second firm with a double-digit allocation. These ETFs have a Zacks ETF Rank #1 (Strong Buy) or 2 (Buy).
Insights into the Potential Launch
iPhone 16: Apple is projected to release four versions of the iPhone 16 series — the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, and the iPhone 16 Pro Max. All the models will feature generative AI capabilities as the tech behemoth looks to bolster sales of its iconic device. The iPhone 16 and the iPhone 16 Plus are expected to be powered by the A18 Bionic chip, while the iPhone 16 Pro and iPhone 16 Pro Max may come with the A18 Pro chip.
The iPhone 16 and 16 Plus are likely to get a major performance boost with the addition of the Apple A18 chipset and a base 8GB RAM variant (up from 6GB last year). Meanwhile, the new iPhone 16 Pro models are likely to be powered by the A18 Pro chipset with support for 8GB of RAM. They are also likely to get an improved Neural Engine, which is likely to be a big marketing strategy for Apple to show off its AI capabilities (read: Tech ETFs That Won Amid NVIDIA-Led Tech Rout).
Rumors also suggest that there could be a new touch-sensitive “Capture Button,” which could make its debut on the iPhone 16 Pro variants. Apple is also likely to introduce a new gold titanium color this year, replacing last year's blue titanium variant.
AirPods: Apple is expected to replace the AirPods 2 with an entry-level AirPods 4 variant, featuring a modern design and improved audio capabilities. Apple might also replace the 2021 AirPods 3 with a higher-end AirPods 4 variant. Both new AirPods models are expected to feature a similar design. The higher-end model is expected to keep the AirPods 4 tag, while the entry-level model may get rebranded as “AirPods Lite.”
Apple Watch: Apple is expected to debut the new Apple Watch Series 10 at the event, along with the Apple Watch Ultra 3. Speculations are also buzzing that Apple may also launch a more affordable third-generation Apple Watch SE.
Solid Fundamentals
Apple boasts the world’s highest stock market valuation, at nearly $3.3 trillion. It has seen a positive earnings estimate revision of a couple of cents for the current fiscal year (ending September 2024) and three cents for the next fiscal over the past 30 days.
Apple currently has an average brokerage recommendation (ABR) of 1.13 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell etc.) made by 40 brokerage firms. Of the 40 recommendations deriving the current ABR, 36 are Strong Buy and three are Buy. Strong Buy and Buy, respectively, account for 90% and 7.5% of all recommendations.
Based on short-term price targets offered by 38 analysts, the average price target for Microsoft comes to $499.58. The forecasts range from a low of $375.00 to a high of $600.00.
Currently, Apple carries a Zacks Rank #3 (Hold) and a Growth Score of B, suggesting that the iPhone maker is primed for growth. Apple stock is cheap, trading at a P/E ratio of 32.97 compared with Amazon’s (AMZN) 36.13 times, and Netflix’s (NFLX) 34.89 times (see: all the Technology ETFs here).
ETFs in Focus
Vanguard Information Technology ETF - Apple accounts for a 17.2% share.
MSCI Information Technology Index ETF - Apple accounts for a 17.5% share in the basket.
iShares US Technology ETF -Apple makes up 16.7% of the assets.
iShares Russell Top 200 Growth ETF - Apple accounts for a 14% share in the basket.
Vanguard Mega Cap Growth ETF - Apple accounts for 13.4% of the total assets
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.