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Rating:ETFs Feel the Fallout of the Apple-Samsung Rumble Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 31, 2012

ETFs Feel the Fallout of the Apple-Samsung Rumble

News summary by MFWire's editors

The impact patent battle of Samsung v. Apple has been felt in ETFs invested in both companies, reports Tom Lyndon for ETF Trends.

The $23 billion iShares MSCI South Korea ETF [profile], which has 21.6 percent of its holdings invested to Samsung, was down by 1 percent.

PowerShares QQQ Trust [profile], which has a 18.8 percent stake in Apple, gained 50 basis points.

Scott Freeze from Street One Financial, said that "Apple has more to lose, as the company holds the top spot in the eye of the public. The same rings true in the case of ETFs."

Other ETFs that felt the impact of this battle include iShares MSCI All-Country Asia Information Technology Index Fund, which has a 17.6 percent stake in Samsung and gained 0.61 percent, while the iShares S&P Asia 50 Index Fund, which has 15.8 percent stake in the Korean company, lost 1.43 percent.  

Edited by: HFD

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