The tech sector is showing signs of a cautious rebound as the week comes to a close, with the Nasdaq 100 experiencing a modest recovery. Apple's positive guidance has been a significant contributor to this uptick, despite ongoing challenges such as declining iPhone sales and geopolitical issues in China. However, uncertainty looms with Nvidia's upcoming meeting with former President Trump, which has contributed to its underperformance among the Magnificent Seven stocks. Investors are also diversifying their portfolios by exploring European equities, which have outperformed US tech stocks this month, reflecting a shift in market sentiment.
The ProShares UltraPro QQQ ETF (TQQQ) has seen a notable increase, rising 4.32% to $86.76 as of 10:40 AM on Friday, January 31.