đź’» PANW Drops on $25B CyberArk Buyout, MRVL & TER Surge on AI & Earnings | Tech Sector Insights
VGT fell 0.2% Wednesday as the Fed kept rates steady amid strong GDP growth and inflation concerns. Apple, Microsoft, and Qualcomm declined, while Palo Alto Networks slipped on its $25B CyberArk buyout. Accenture hit a 26-month low, echoing the S&P 500’s broader pullback.
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Wednesday, July 30
VGT [-0.2%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price decline of 0.2% during market hours on Wednesday. The Federal Reserve maintained its benchmark interest rate at 4.25%-4.50%, amidst inflation concerns and robust GDP growth of 3% in Q2. A notable increase in U.S. crude oil inventories by nearly 7.7 million barrels may influence market dynamics for technology stocks as energy prices fluctuate. Among VGT's holdings, significant contributors to performance included Apple, Microsoft, Palo Alto Networks, Accenture, and Qualcomm, all of which experienced declines. Palo Alto Networks announced its acquisition of CyberArk Software for $25 billion, while Accenture's stock fell to a 26-month low, reflecting broader market sentiment as the S&P 500 Index also declined by 0.35%.