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The Vanguard Information Technology ETF (VGT) has seen a decline of 0.6% since Tuesday, influenced by notable movements among its holdings. Microsoft (MSFT) dropped significantly, as it was removed from BMO's top picks list amid intensified competition for a $4 trillion valuation in the tech sector.
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Wednesday, October 16
VGT [-0.6%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a decline of 0.6% since Tuesday, influenced by notable movements among its holdings. Microsoft (MSFT) dropped significantly, contributing to the ETF's performance as it was removed from BMO's top picks list amid intensified competition for a $4 trillion valuation in the tech sector. Apple (AAPL) faced challenges in Indonesia due to unmet investment commitments, despite experiencing growth in global smartphone shipments. Intel (INTC) is currently under scrutiny in China for potential national security concerns, which has resulted in a premarket share decline. Qualcomm (QCOM) has postponed its decision on acquiring Intel until after the U.S. presidential election, seeking clarity on antitrust regulations. Applied Materials (AMAT) reached a four-week low but exhibited bullish options trading activity, with analysts offering mixed ratings and price targets. Additionally, the AUD/USD currency pair has declined, reflecting broader market sentiment that may also impact VGT's performance.