5 Top-Ranked Technology ETFs Worth Your Attention Now

Wall Street closed in an upbeat mood on Nov. 19 as investors once again retreated to expand their holdings of major tech players amid the soaring coronavirus cases. The Dow Jones Industrial Average gained 0.2%. Meanwhile, the S&P 500 rose 0.4%, along with the Nasdaq Composite’s gain of 0.9%. Notably, it came out to be the first gain for the major averages in three sessions.

Netflix (NFLX) and Amazon (AMZN) rallied 0.6% and 0.4%, respectively on the same day. Alphabet (GOOGL) appreciated 1%, and Microsoft (MSFT) rose 0.6%. Apple (AAPL) was up 0.5% and Facebook (FB) closed with a 0.4% gain.

The coronavirus outbreak continues to worsen in the United States and globally. The number of cases has passed 11.5 million in the world’s largest economy. According to a CNBC article, its analysis of the Johns Hopkins University data revealed that the seven-day average of daily new U.S. coronavirus infections now stands at 161,165, increasing 26% from the previous week.

The rising coronavirus cases will once again prompt Americans to send more time indoors and opt for in-house entertainment modes. We are also expecting to see surging work-from-home and online shopping trends, increasing digital payments, growing video streaming and soaring video game sales in the current period.

With the new trends making way, a few major technology stocks are expected to keep gaining traction from the buoyancy in demand for their products and services. Evidently, cloud computing has emerged as a key technology in the fight against COVID-19. It is backing organizations in remotely processing a lot of information, developing and running key applications and services, and helping employees across the world collaborate while working. The work-from-home model too has bumped up the sales of PCs, laptops and other kind of computer peripherals.

Also, an increasing number of people are now resorting to streaming platforms like Netflix, Amazon Prime or Disney+ or turning to social media platforms like Facebook and Twitter for in-house entertainment.

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