Looking to top the CNBC Portfolio Challenge leader board? The following links will help; Week 10 Final Portfolio, Contest Wrap-up and Thoughts • July 18 Bonus Bucks Answers

Google, Apple Holding Tech Back

If you are wondering why the tech sector has failed to rally, look no further. Here is some pretty telling data and analysis; The S&P 500 over the two week period since Feb. 11 is up from 1,339 to 1,371 a gain of 2.4%, the Dow has risen from 12,240 to 12,570 a healthy rise of 2.7%, while the NASDAQ has been practically flat, with a slight uptick of .03% from 2,320 to 2,327. That would certainly suggest tech has been floundering. A good representation of why that is the case is to look at the tech heavy NASDAQ 100 ETF (QQQQ) which is flat to down over that same time, with a small drop of .04% from $44.07 to $43.90. When you examine the composition of the NASDAQ 100, it becomes clear why tech has underperformed. According to data from Powershares, Google Inc. (GOOG) and Apple Inc. (AAPL) are in the top five weighted stock holdings of the ETF, with Apple leading the way representing 9.71% and Google in the fourth spot, composing 4.63% of the ETF. During the period we’re looking at, Apple shares are down 8.1% from $129.45 to $119.74 and Google shares are off by 7.1% from $521.16 to $486.44. Those losses are only being extended today. With Google and Apple still at the helm, but no longer being the horsemen of tech leading the charge to the upside, the two stocks are depriving tech of its mojo to bounce back.

Related Articles

• April 10, 2008 -- GARP: Google at a Reasonable Price
• May 22, 2008 -- Notable Weakness in Apple: Another Late Day Selloff

It's that time of year again. CNBC's Million Dollar Portfolio Challenge will be getting underway on Monday, May 12. The tournament is similar in fashion to last year; each contestant receives 1 million CNBC Bucks and can trade stocks with a minimum market cap of $500 million. In addition to 10 pretty cool weekly prizes, there is a grand prize of $500,000 to the lucky contestant who finishes with the highest portfolio return. The only twist to the tournament is that currency trading is now allowed.

We'll be doing a number of things this time around to help with your trading success and so you can have better shot at winning the tournament. Follow the links below to learn more, and good luck!