đź’» Tech Stocks Rally; Unity Surges as Analysts Lift Targets | Tech Sector Insights
(VGT) gained 1.1% after U.S. retail sales and the Philly Fed Index beat expectations—pointing to resilient consumer demand and manufacturing strength. Microsoft, NVIDIA, and Broadcom led the gains, while Oracle surged on bullish analyst upgrades, reinforcing confidence in the tech sector’s momentum.
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Thursday, July 17
VGT [+1.1%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has experienced a daily return of approximately 1.1%, buoyed by strong macroeconomic indicators. U.S. retail sales rose by 0.6% in June, exceeding expectations, while the Philadelphia Fed Manufacturing Index unexpectedly surged to 15.9 in July from -4 the previous month. This data suggests robust consumer spending and improved manufacturing activity, which may benefit technology stocks. Among VGT's holdings, Microsoft, NVIDIA, and Broadcom were significant contributors to its performance, with returns reflecting positive market sentiment. Notably, Oracle's stock received a boost as UBS raised its price target from 250 to 280, and Scotiabank initiated coverage with a Sector Outperform rating and a target of 300. These developments have further enhanced the optimistic outlook for Oracle within the technology sector.