In this article, we will examine the performance of the cloud computing stocks within the broad technology sector, and we’ll track the weekly performance of the First Trust ISE Cloud Computing Index Fund (SKYY) as well as its components. SKYY closed at $31.0 with a positive return of 0.16% on Friday, November 27, 2015, generating a profit of 1.4% for the trailing five days.
From November 20 to November 27, 2015, the technology sector performance remained average. The Global X Social Media (SOCL), the iShares Global Tech (IXN), and the First Trust NASDAQ CEA Smartphone (FONE) generated -0.74%,-0.68%, and 0.78%, respectively, for the trailing five days.
Technology hardware was the worst-performing sector with a return of -2.2%. Within the sector, Hewlett-Packard (HPQ) generated returns of -8.6% for the trailing five days, followed by NetApp (NTAP) with -0.9%. Hewlett-Packard had fallen by 11% after its earnings announcement on November 24, 2015. The company’s revenue fell for the fifth straight quarter, driven by sluggish demand for PC and other hardware devices. The next worst-performing sector is communication equipment, generating a return of -1.5%. Communication equipment consists of EVS Broadcast Equipment (EVS) and Cisco (CSCO) with a negative return of -1.5% and -0.18%, respectively.
Internet retail was the best-performing sector with a return of 3.1% for the trailing five days. Stocks in the sector were above average for this sector compared to others. Within the sector, Amazon (AMZN) and Netflix (NFLX) were the best-performing stocks, generating a return of 1.8% and 4.4%, respectively, for the trailing five days on November 27, 2015.