đź’» Tech ETF Climbs as Fed Cut Boosts Sentiment; Nvidia-Intel AI deal, Apple Hits 28-Week High | Tech Sector Insights
The Vanguard Information Technology ETF gained Thursday, lifted by rate cut optimism and sector catalysts. Nvidia’s $5B Intel partnership, Apple’s strong Asia demand, and Microsoft’s AI server push drove momentum, while Intuit advanced on upbeat AI revenue prospects.
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Friday, September 19
VGT [+0.6%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price increase of 0.6% since Thursday. The recent Federal Reserve interest rate cut is creating favorable conditions for technology stocks, which typically respond positively to lower borrowing costs. Nvidia's $5 billion partnership with Intel to co-develop AI infrastructure is further enhancing enthusiasm for tech assets like VGT. Among the ETF's top holdings, Apple (AAPL) is experiencing strong demand in Asia, with its stock reaching a 28-week high, while Microsoft (MSFT) is planning a substantial investment in backup servers to bolster its AI capabilities. Intuit (INTU) aims for significant revenue growth driven by AI solutions, supported by positive market responses to upgrades in its QuickBooks product.