💻 Nvidia Drops Ahead of Earnings While Cisco Rallies on Raised Guidance | Tech Sector Insights
Major contributors to VGT's performance include Nvidia, Microsoft, Broadcom, AMD, and Oracle, all of which have posted significant declines. Nvidia faces pressure ahead of its earnings report despite price target increases, while Microsoft contends with competition.
Welcome to the MarketReader Minute.
Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Thursday, November 13
VGT [-3.2%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a notable decline of 3.2% today, coinciding with the reopening of the U.S. government after its historic shutdown. This development is expected to restore normal operations and resume key economic data releases, although concerns about persistent high inflation remain. Federal Reserve officials are exercising caution regarding further interest rate cuts, contributing to negative sentiment in the technology sector. Major contributors to VGT's performance include Nvidia, Microsoft, Broadcom, AMD, and Oracle, all of which have posted significant declines. Nvidia faces pressure ahead of its earnings report despite price target increases, while Microsoft contends with competition and issues related to its Teams platform. Additionally, the S&P 500 Index has dropped significantly, reflecting broader market volatility that impacts VGT's performance.