💻 Intel Falls as Nvidia Replaces It in Dow While NVDA Gains, ENTG Down on Q4 Outlook Miss and AAPL Slips Amid Berkshire Stake Cut | Tech Sector Insights
(VGT) has experienced a modest increase, coinciding with heightened volatility in financial markets due to the U.S. presidential election, where Vice President Kamala Harris is reportedly gaining on former President Donald Trump.
Welcome to the MarketReader Minute.
Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Monday, November 4
VGT [+0.1%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a modest increase, coinciding with heightened volatility in financial markets due to the U.S. presidential election, where Vice President Kamala Harris is reportedly gaining on former President Donald Trump. This political uncertainty has contributed to a weakening U.S. dollar and increased expectations for interest rate cuts by the Federal Reserve, following disappointing job growth data for October. Within the ETF's holdings, notable contributors to the downturn include Apple (AAPL) and Microsoft (MSFT), both of which have seen significant negative returns. Additionally, Intel (INTC) shares have dropped sharply as it was replaced by Nvidia in the Dow Jones Industrial Average, marking the end of Intel's 25-year presence on the index. Analysts have expressed concerns about Intel's Gaudi AI chip segment, predicting revenue shortfalls due to slow adoption rates.