Five ETF Plays for Amazon's Tablet

Wednesday is D-Day in the tablet world as Amazon.com

is expected to unveil what some analysts are saying could be the first legitimate threat to iPad's tablet dominance. Apple

has sold about 29 million iPads since the wildly popular device debuted in April 2010 and the tech juggernaut has maintained a stranglehold on the tablet space ever since. No one, not Hewlett-Packard

, not Research In Motion

, has been able to mount a serious threat to Apple on the tablet front. This time could be different as Amazon is expected to price its tablet, which will reportedly be called the Kindle Fire, at $250, well below the cheapest version of the iPad. In the past, Amazon has shown a willingness to sacrifice profit margins for revenue growth, so it would not be a surprise to see that strategy repeated with the Kindle Fire. We know this much: The tech world will be abuzz on Wednesday and these are the ETFs to play on roll-out of the Amazon tablet. Note: We looked beyond obvious plays such as the PowerShares QQQ

for this list. First Trust ISE Cloud Computing Index Fund

: Cloud computing and tablets don't always go together, but consider this: Amazon and Apple combine for over 8% of SKYY's weight. The Amazon tablet will run on the Android operating system. Google

is another top-10 holding in SKYY. Indeed, this is one ETF that will be in play thanks to Amazon's tablet. First Trust Dow Jones Internet Index Fund

: Easy to explain. The First Trust Dow Jones Internet Index Fund allocates almost 19% of its weight to Google and Amazon. Those are the ETF's top two holdings. iShares MSCI Taiwan Index Fund

: The iShares MSCI Taiwan Index Fund is a longer-term play on the tablet theme. News that Apple may be cutting iPad parts orders isn't the best news for EWT, an ETF where many components makers make a home. Then again, if the Kindle Fire is a success, some those parts makers should benefit. After a nasty spill not related to tablets at all, EWT found support just below $12, bounced from there and could rally another $1 before seeing next resistance. Internet HOLDRs

: As is the case with many of the HOLDRs funds, HHH is heavily to just a few stocks. In this case, Amazon commands more than half of the ETFs weight. Amazon trades for almost $227 a share. HHH trades for just below $80, so the ETF is a more cost-efficient tablet play for a few days at least. SPDR Morgan Stanley Technology ETF

: MTK has a tendency to fly under the radar, but it is a valid tablet play as Amazon and Apple combine for over 8% of the fund's weight. MTK would be a buy regardless of any tablet news on a move above resistance at $60.