💻 Qualcomm Faces Downgrade Despite Growth Targets; NVIDIA Slides Ahead of Earnings Amid Anticipated Record Revenues | Tech Sector Insights
(VGT) has seen a price decline of 1.0% since Tuesday. Significant movements among its holdings include NVIDIA (NVDA), which dropped over 2% following its announcement of a collaboration with Quantum-Si to enhance data processing speeds for a new proteomics platform.
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Wednesday, November 20
VGT [-1.0%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price decline of 1.0% since Tuesday. Significant movements among its holdings include NVIDIA (NVDA), which dropped over 2% following its announcement of a collaboration with Quantum-Si to enhance data processing speeds for a new proteomics platform, while also addressing concerns regarding overheating issues with its Blackwell AI chips. Microsoft (MSFT) and Qualcomm (QCOM) also contributed to the downturn, with MSFT declining by over 1% and QCOM experiencing a notable drop of nearly 6%. Qualcomm recently outlined ambitious financial targets at its 2024 Investor Day, projecting substantial revenue growth across various sectors, yet the stock has seen a recent decline. Other contributors to the ETF's performance included Apple (AAPL) and Broadcom (AVGO), both of which experienced slight losses.