💻 Qualcomm Drops Amid Price Target Cut, While NVIDIA and Marvell Gain on AI and Semiconductor Strength | Tech Sector Insights
The Vanguard Information Technology ETF (VGT) has seen a decline of 0.4% since Friday, coinciding with a broader market downturn, as reflected by the S&P 500 Index's drop of 0.62%.
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Monday, October 21
VGT [-0.4%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a decline of 0.4% since Friday, coinciding with a broader market downturn, as reflected by the S&P 500 Index's drop of 0.62%. Key contributors to VGT's performance include Microsoft (MSFT), which decreased significantly and is pursuing autonomous AI initiatives while collaborating with Constellation Energy on nuclear-powered data centers. Qualcomm (QCOM) also fell sharply after an analyst lowered its price target, though it retains a Positive rating. Texas Instruments (TXN) is under scrutiny ahead of its Q3 earnings report, with a notable decline in share price and lowered price target amid concerns about its performance in the automotive and industrial sectors. Other holdings like Avago (AVGO) and Micron Technology (MU) also contributed to the ETF's overall performance decline.