💻 Nvidia Soars on $44B Q1 Beat; HP Tumbles on EPS Miss and Cut Guidance | Tech Sector Insights
A U.S. federal court ruling against President Trump's tariffs is anticipated to ease trade tensions and bolster market sentiment within technology sectors represented by the ETF.
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Thursday, May 29
VGT [+1.7%]
Vanguard Information Technology ETF (VGT)
Nvidia reported robust first-quarter results, with revenues reaching $44.1 billion, marking a significant year-over-year increase, despite facing export restrictions affecting its H20 AI chip sales to China. This performance has positively influenced the Vanguard Information Technology ETF's daily return of 1.9%. Additionally, a U.S. federal court ruling against President Trump's tariffs is anticipated to ease trade tensions and bolster market sentiment within technology sectors represented by the ETF. Among the ETF's holdings, Nvidia emerged as a top contributor, with a notable return. Apple plans to rebrand its software platforms with a year-based naming system, set to be unveiled at its Worldwide Developers Conference on June 9. Advanced Micro Devices announced its acquisition of Enosemi to enhance co-packaged optics innovation for AI systems, aligning with its strategy to strengthen its AI portfolio.