đź’» Corning and CyberArk Surge on Strong Earnings and M&A Buzz; Verisign Slides on Berkshire Share Sale | Tech Sector Insights
(VGT) dipped 0.3% even as a stronger U.S. dollar and a new U.S.-EU trade deal stirred optimism for domestic tech. AMD rallied on a BofA target hike, Cadence beat Q2 expectations, and Corning impressed with optical segment strength. Investors remain cautious ahead of the Fed’s rate decision tomorrow.
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Tuesday, July 29
VGT [-0.3%]
Vanguard Information Technology ETF (VGT)
The U.S. dollar has strengthened significantly following a new trade agreement with the European Union, which includes a 15% tariff on most EU imports to the U.S. This development may benefit technology sectors represented by Vanguard Information Technology ETF (VGT). Expectations are high for tomorrow's Federal Reserve meeting, where interest rates are anticipated to remain steady, potentially influencing market conditions relevant to tech investments tracked by VGT. Among the ETF's holdings, AMD saw a notable increase as BofA Securities raised its price target, while Cadence Design Systems reported strong quarterly results, positively impacting analyst sentiment. Synopsys benefited from Cadence's guidance revision, and Corning Inc exceeded Q2 expectations driven by strong demand in its Optical Communications segment.