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Apple CEO’s Exit Hits NASDAQ-100 ETF
A NASDAQ-100 ETF fell after Apple’s CEO Steve Jobs announced his decision to step down.
A NASDAQ-100 ETF fell after Apple’s CEO Steve Jobs announced his decision to step down, ETF Trends reports. The shares of PowerSharesQQQ and Apple declined more than 1%.
Apple comprises nearly 15% of the portfolio, which is made up of the 100 largest nonfinancial stocks listed on the NASDAQ. Jobs’ resignation has raised a number of concerns about the company, but analysts said investors remain bullish about Apple’s market position.
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