đź’» Tech ETF Rises as AMD, Apple, and Broadcom Lead Gains; Oracle Deal and New Chip Launch Drive Momentum | Tech Sector Insights
(VGT) gained 1.0% since Tuesday, fueled by strong performances from AMD, Apple, and Broadcom. AMD surged after analysts raised price targets following its major GPU deal with Oracle, while Apple’s new M5 chip launch boosted demand sentiment.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Wednesday, October 15
VGT [+1.0%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price increase of 1.0% since Tuesday, driven by significant movements among its holdings. Advanced Micro Devices (AMD) reported a notable return, bolstered by analysts from Wedbush and HSBC raising their price targets substantially following a major agreement with Oracle for 50,000 GPUs. Apple (AAPL) unveiled its new M5 chip, enhancing AI performance across devices, with pre-orders now open. Broadcom (AVGO) also contributed positively after reporting an increase in returns. Applied Materials (AMAT) saw its price target raised by Mizuho amid shares reaching a 14-month high. Nvidia (NVDA) added to the ETF's performance, albeit with a smaller contribution. These developments reflect a dynamic landscape in the information technology sector, impacting the ETF's overall performance.