As per recent weighting in the investors publications posted on the website of the QQQ ETF trust. Amazon (AMZN ) and Apple (AAPL) constitute approximately more than 15% of the nasdaq-100 stock index. The outlook of the earnings and the stock prices of these two companies can then have a non-negligeable impact on the overall Nasdaq-100 stocks index.

In the earnings announcement of Amazon, amazon.com expects (for the third quarter 2011) net sales to be between $10.3 billion and $11.1 billion and operating profit to be between $20 million and $170 million. The latter number is significantly lower than the $309 million (which was the expected average for the third quarter of 2011).

We note that in its most recent earnings announcement, Apple (AAPL) gave $5.5 as an estimate for Q3 earnings, which is lower than Q2 earnings.

With lower margins for Amazon (AMZN), and a lower guidance from AAPL, it is not unreasonable to expect a rise in potential risk.

It would be interesting to monitor the overall reaction of institutional investors once these earning reports have been digested over the next few days and weeks. We would keep an eye on the institutional ownership in these two major stocks.

Below is the list of companies in the Nasdaq-100 stocks index.


Company Name Symbol

ACTIVISION INC ATVI
ADOBE SYS INC ADBE
ALTERA CORP ALTR
AMAZON AMZN
AMERICAN POWER CONVER CORP APCC
AMGEN AMGN
APOLLO GROUP-A APOL
APPLE COMPUTER AAPL
APPLIED MATERIAL AMAT
ATI TECHNOLOGIES ATYT
AUTODESK ADSK
BEA SYSTEMS BEAS
BED BATH &BEYOND BBBY
BIOGEN BIIB
BIOMET BMET
BROADCOM CORP-A BRCM
Cadence Design Systems Inc CDNS
CDW COMPUTER CTR CDWC
CELGENE CORPORATION CELG
C.H. ROBINSON WORLDWIDE CHRW
CHECK POINT SOFT CHKP
CHECKFREE CORP CKFR
CHIRON CORP CHIR
CINTAS CORP CTAS
CISCO SYSTEMS CSCO
CITRIX SYSTEMS CTXS
COGNIZANT TECHNOLOGY SOLUTIONS CORP CTSH
COMCAST CORPORATION CMCSA
COMVERSE TECH CMVT
COSTCO WHOLESALE COST
DELL DELL
DENTSPLY INTERNATIONAL XRAY
DISCOVERY HOLDING DISCA
EBAY EBAY
ECHOSTAR COMM-A DISH
ELECTRONIC ARTS ERTS
EXPEDIA INC EXPE
EXPEDITORS INTERNATIONAL EXPD
EXPRESS SCRIPT-A ESRX
FASTENAL COMPANY FAST
FISERV FISV
FLEXTRONICS INTL FLEX
GARMIN LTD GRMN
GENZYME-GENL DIV GENZ
GILEAD SCIENCES GILD
GOOGLE INC GOOG
IAC/INTERACTIVE CORP IACI
INTEL CORP INTC
INTUIT INTU
JDS UNIPHASE JDSU
JUNIPER NETWORKS JNPR
KLA-TENCOR CORP KLAC
LAM RESEARCH CORPORATION LRCX
LAMAR ADVERTISING COMPANY LAMR
LIBERTY MEDIA INTERNATIONAL LBTYA
LINCARE HOLDINGS LNCR
LINEAR TECH CORP LLTC
LM ERICSSON TELEPHONE COMPANY ERICY
MARVEL TECHNOLOGY GROUP, LTD MRVL
MAXIM INTEGRATED MXIM
MCI MCIP
MEDIMMUNE MEDI
MERCURY INTERACT MERQ
MICROCHIP TECH MCHP
MICROSOFT CORP MSFT
MONSTER WORLDWIDE INC MNST
NETWORK APPLIANC NTAP
NII HOLDING NIHD
NOVELLUS SYS NVLS
NTLI NTLI
NVIDIA CORP NVDA
ORACLE CORP ORCL
PACCAR PCAR
PATTERSON COMPANIES PDCO
PATTERSON-UTI ENERGY PTEN
PAYCHEX PAYX
PETSMART PETM
PIXAR PIXR
QUALCOMM QCOM
RED HAT RHAT
RESEARCH IN MOTION LIMITED RIMM
ROSS STORES ROST
SANDISK CORPORATION SNDK
SEARS HOLDINGS CORP SHLD
SEPRACOR SEPR
SIGMA-ALDRICH CORPORATION SEPR
SIRIUS SATELLITE RADIO SIRI
STAPLES SPLS
STARBUCKS CORP SBUX
SUN MICROSYSTEMS SUNW
SYMANTEC CORP SYMC
TELLABS TLAB
TEVA PHARMACEUTICAL INDUSTRIES TEVA
URBAN OUTFITTERS URBN
VERISIGN VRSN
WHOLE FOODS MARKET WFMI
WYNN RESORTS, LTD WYNN
XILINX XLNX
XM SATELLITE RADIO HOLDINGS XMSR
YAHOO YHOO

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