💻 TSM Surges on Strong Q3 Earnings, Nokia Falls on Weak Sales, and NVIDIA Gains Bolstered by TSM's Robust Performance | Tech Sector Insights
(VGT) has risen by 0.9% today. This uptick coincides with the European Central Bank's decision to cut key interest rates by 25 basis points, marking its third consecutive reduction aimed at stimulating economic growth amid declining inflation in the Eurozone.
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Thursday, October 17
VGT [+0.9%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has risen by 0.9% today. This uptick coincides with the European Central Bank's decision to cut key interest rates by 25 basis points, marking its third consecutive reduction aimed at stimulating economic growth amid declining inflation in the Eurozone. Positive sentiment around technology stocks is also supported by strong earnings reports from major semiconductor companies, particularly Taiwan Semiconductor Manufacturing Company (TSMC), which has seen robust demand for AI applications. Among VGT's holdings, NVIDIA (NVDA) has benefited from favorable market conditions, while Broadcom (AVGO) experienced a notable share sale by its chief legal officer. Qualcomm (QCOM) is launching an AI-enabled IoT Edge Compute Cellular Gateway designed to enhance energy management in smart grids.