💻 Tech Slump: HPQ and Dell Tumble Amid Weak Guidance; Autodesk, Workday, and Nvidia Follow | Tech Sector Insights
(VGT) has seen a decline of 1.3% today, coinciding with a broader drop of 0.24% in the S&P 500 Index. A ceasefire agreement between Israel and Hezbollah has contributed to lower oil prices, which are affecting global markets.
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Wednesday, November 27
VGT [-1.3%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a decline of 1.3% today, coinciding with a broader drop of 0.24% in the S&P 500 Index. A ceasefire agreement between Israel and Hezbollah has contributed to lower oil prices, which are affecting global markets. Despite this, major U.S. stock indices have reached new record highs, reflecting a mixed market sentiment. Notably, Dell Technologies reported earnings that exceeded expectations but fell short on revenue due to weak PC demand, impacting technology sector ETFs like VGT. Among VGT's holdings, significant contributors to its performance include NVIDIA, Broadcom, Microsoft, Salesforce, and AMD, all of which posted negative returns. Microsoft is currently facing scrutiny over vulnerabilities in its operating system exploited by a hacking group, while Salesforce received a price target increase from Citi due to positive feedback on its AI agents.