💻 Microsoft Declines Despite Beating Estimates; Broadcom and IBM Soar on Strong AI Developments | Tech Sector Insights
(VGT) has seen a daily increase of 0.8%, reflecting positive sentiment in the technology sector following the Federal Reserve's decision to maintain interest rates at 4.25%-4.50%. Strong earnings reports from major tech companies, particularly Meta Platforms, have further bolstered this sentiment.
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Thursday, January 30
VGT [+0.8%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a daily increase of 0.8%, reflecting positive sentiment in the technology sector following the Federal Reserve's decision to maintain interest rates at 4.25%-4.50%. Strong earnings reports from major tech companies, particularly Meta Platforms, have further bolstered this sentiment. Among VGT's holdings, Broadcom Inc. (AVGO) and IBM have emerged as significant contributors to performance, with notable premarket trading increases linked to Meta's plans to enhance AI chip usage. Additionally, Lam Research (LRCX) reported robust Q2 results and optimistic guidance for Q3, positively influencing its share price. The Russell 2000 Index also experienced an increase, suggesting a correlation with VGT's upward movement, as both assets historically show interconnected performance trends.