3 Classic Tech ETFs to be Tested by Earnings Reports This Week

Earnings seasons is chugging along and this week brings mammoth tests for the high-flying communication services and technology sectors. Consider this week of “not fooling around” earnings reports because technology and communication services stocks combine for about 34.60% of the S&P 500's weight.

And while Feb. 3 is next week, that date is worth remembering because that's when Google parent Alphabet (NASDAQ:GOOG) steps into the earnings confessional.

Here are some exchange traded funds that will be in the earnings spotlight over the next several days.

Technology Select Sector SPDR (XLK)

After a monster year in 2019, the Technology Select Sector SPDR (NYSE:XLK) is off to a stellar start in 2020 with a gain of 6.3%. That will be tested this week because XLK, the largest tech ETF by assets, will be under earnings scrutiny in significant fashion.

Apple and Microsoft combine for nearly 40% of this fund's weight, exposure to those names that's comparable among other cap-weighted tech ETFs.

And don't forget that Visa (NYSE:V), 5.33% of XLK's roster, also reports later this week.

Communication Services Select Sector SPDR (XLC)

As noted earlier, Alphabet reports earnings next week and the GOOG and GOOGL classes of that stock combine for 23.5% of XLC's roster.

Invesco QQQ (QQQ)

The Invesco QQQ (NASDAQ:QQQ) makes for a predictable ETF to consider over the next few days because it devotes 69% of its weight to technology and communication services stocks.

Apple and Microsoft combine for nearly 23% of QQQ's weight while Amazon, Facebook and Google and combine for another 20.60%.

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