SPMO is trading at $136.65, up 1.6% in pre-market trading, driven by positive momentum in the information technology sector and reports of Apple diversifying its chip supply chain.
- Apple is reportedly in preliminary talks with Intel and Samsung for US-based chip manufacturing to reduce reliance on TSMC amid rising geopolitical tensions.
- The information technology sector accounts for 46.9% of the ETF's holdings, making the fund highly sensitive to major tech developments.
- The gains come amid a flat broader market, with S&P 500 futures up 0.01% and no major economic data scheduled for release today.