💻 VGT Climbs as Tech Stocks Rally on Tariff Shifts and Rate Cut Hopes | Tech Sector Insights
Tech stocks gained with VGT up, led by Apple, Nvidia, and Cisco. A new 100% tariff on semiconductor imports favors U.S. manufacturers, while soft labor data fuels expectations of Fed rate cuts, boosting growth sentiment across the sector.
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Friday, August 8
VGT [+0.9%]
Vanguard Information Technology ETF (VGT)
Vanguard Information Technology ETF (VGT) has seen a price increase of 0.9% since Thursday. Recent macroeconomic developments include President Trump's announcement of a 100% tariff on semiconductor imports, which is expected to favor domestic manufacturers like Apple while challenging those reliant on imports. Concurrently, expectations for Federal Reserve interest rate cuts are rising due to cooling labor market conditions, potentially enhancing growth prospects for the technology sector. Among VGT's holdings, Apple has gained momentum with a significant U.S. investment commitment and a price target increase, reaching its highest stock price since March 2025. NVIDIA benefits from robust revenue growth linked to AI demand, aided by an exemption from U.S. tariffs. Cisco Systems has achieved its highest stock price since May 2000, reflecting substantial gains over the past year.