Despite the recent selloff, shares of Apple Inc. (NASDAQ: AAPL
) have skyrocketed 48% in the first quarter, dwarfing the 12% gain posted by the S&P 500.
Apple's astonishing rise
has also helped to underpin the Nasdaq Composite
, which gained nearly 19% in the first quarter -- its strongest showing since 1991.
But that's not the only place to experience the "Apple Effect."
Many investors who own technology ETFs -- which hold almost 4% of all Apple shares outstanding -- were rewarded with even better returns.
For instance, theVanguard Information Technology ETF
) was up 20.85% in the first quarter.
Even better, the iShares Dow Jones U.S. Technology Index Fund
), was up 21.77%, thanks in part to Apple.
Now the question is: Can Apple's momentum continue to drive technology ETFs higher?
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