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After the closing bell yesterday, Apple Inc. (AAPL - Free Report) came up with robust first-quarter fiscal 2022 results. The tech giant beat the estimates on both the top and bottom lines and posted all-time record quarterly revenues.

Driven by solid results, Apple shares rose about 5% in after-hours trading on elevated volume, erasing half their losses made so far this year. Investors could tap Apple’s success with the ETFs, with the largest allocation to the tech titan. Funds such as Technology Select Sector SPDR Fund (XLK - Free Report), Vanguard Information Technology ETF (VGT - Free Report), MSCI Information Technology Index ETF (FTEC - Free Report), iShares US Technology ETF (IYW - Free Report) and iShares Russell Top 200 Growth ETF (IWY - Free Report) have Apple as the top firm with a double-digit allocation and sport a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Apple Results in Focus

Earnings per share came in at $2.10, outpacing the Zacks Consensus Estimate of $1.89 and higher than the year-ago earnings of $1.68. Revenues increased 11% year over year to a record $123.9 billion and edged past the estimate of $118.6 billion.

The iPhone maker has well navigated the supply-chain challenges such as factory shutdowns and shipping delays brought on by the pandemic and benefited from a flood of new products, including the iPhone 13, Apple Watch Series 7 and updated Macs. Additionally, the pandemic has accelerated the adoption of digital tools for communication, learning and entertainment, powering Apple to blowout sales.

iPhone sales jumped 9% to $71.63 billion while services revenues, comprising iTunes, Apple Music, iCloud, Apple Pay and Apple Care, soared 24% year over year to a record $19.5 billion. Revenues from Wearables, Home and Accessories, which include Apple Watch, AirPods, HomePod, Apple TV, and Beats headphones, spiked 13% to $14.7 billion. iPad sales dropped 14% to $7.2 billion while Mac sales increased 25% to $10.9 billion.

Apple has become the world’s first $3 trillion publicly-traded company early this year but a tech slump has pushed it shares down by more than 11%. It continues to explore new markets such as automated cars and virtual reality. Apple has many projects in the pipeline. It plans to release computerized glasses featuring augmented reality technology in 2022, and is developing a virtual reality headset as well. Apple is also working on a self-driving electric vehicle that could be on the market as soon as in 2025.

The year 2022 could be bigger in terms of new products. Apple is planning its widest array of launches ever, including a new iPhone SE and an iPad Air with 5G as early as this spring, per Bloomberg.

Apple now has 785 million paid subscribers on its platform, up from the 745 million it reported a quarter ago.

ETFs to Buy

Technology Select Sector SPDR Fund (XLK)

Technology Select Sector SPDR Fund targets the broad technology sector and follows the Technology Select Sector Index. It holds about 76 securities in its basket, with Apple making up for 24.1% share. Technology Select Sector SPDR Fund has key holdings in software, technology hardware, storage & peripherals, semiconductors & semiconductor equipment, and IT services.

Technology Select Sector SPDR Fund is the most popular and heavily traded ETF, with AUM of $44.7 billion and an average daily volume of 13.8 million shares. The fund charges 12 bps in fees per year.

Vanguard Information Technology ETF (VGT)

Vanguard Information Technology ETF manages about $48.8 billion in its asset base and provides exposure to 362 technology stocks. It currently tracks the MSCI US Investable Market Information Technology 25/50 Index. Here, Apple accounts for a 21.6% share.

Vanguard Information Technology ETF has an expense ratio of 0.10% while volume is solid at nearly 911,000 shares.

MSCI Information Technology Index ETF (FTEC)

MSCI Information Technology Index ETF is home to 368 technology stocks with AUM of $6.2 billion. It follows the MSCI USA IMI Information Technology Index. Apple accounts for 21.5% allocation.

MSCI Information Technology Index ETF has an expense ratio of 0.08% while volume is solid at 362,000 shares a day.

iShares US Technology ETF (IYW)

iShares Dow Jones US Technology ETF tracks the Russell 1000 Technology RIC 22.5/45 Capped Index, giving investors exposure to 154 U.S. electronics, computer software and hardware, and informational technology companies. Apple makes up 18.5% of the assets.

iShares Dow Jones US Technology ETF has AUM of $8.2 billion and charges 41 bps in fees and expenses. Volume is good as it exchanges nearly 709,000 shares a day.

iShares Russell Top 200 Growth ETF (IWY)

iShares Russell Top 200 Growth ETF offers exposure to large U.S. companies that are expected to record earnings growth at an above-average rate relative to the market. It tracks the Russell Top 200 Growth Index, holding 110 stocks in its basket. Apple accounts for 14.5% of total assets. iShares Russell Top 200 Growth ETF has key holdings in information technology, consumer discretionary and communication with double-digit exposure each.

iShares Russell Top 200 Growth ETF has amassed $4.4 billion in its asset base and trades in an average daily volume of 231,000 shares. It has an expense ratio of 0.20%.