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Key contributors to this performance include NVDA, AMD, CSCO, MU, and AAPL, with NVDA leading the way. Analysts have recently upgraded Cisco Systems (CSCO), boosting its average 12-month price target to $54.00, supported by a solid revenue growth rate and net margin.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Friday, August 16
VGT [+0.2%]
The Vanguard Information Technology ETF (VGT) has experienced a slight increase of 0.2% since Thursday. Key contributors to this performance include NVDA, AMD, CSCO, MU, and AAPL, with NVDA leading the way. Analysts have recently upgraded Cisco Systems (CSCO), boosting its average 12-month price target to $54.00, supported by a solid revenue growth rate and net margin. Meanwhile, Epic Games has reintroduced Fortnite on iPhone via its own app store, reigniting its dispute with Apple over app distribution practices. Additionally, the Michigan Consumer Sentiment report revealed an uptick to 67.8 in August 2024, surpassing expectations and prompting a notable positive reaction for VGT. This sentiment was complemented by stable inflation expectations. The S&P 500 Index has also moved up by 0.12%, reflecting broader market sentiment that may influence VGT's recent price movement.