💻 VGT Rises as Apple Surges on iPhone 17 Demand, Intel Jumps on Altera Stake Sale | Tech Sector Insights
The Vanguard Information Technology ETF advanced with gains from Apple’s strong iPhone pre-orders, Intel’s $4B Altera deal with Silver Lake, and Broadcom’s new street-high target. Oracle and Microsoft also added to sector strength.
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Below are AI-generated insights on moves in the information technology sector, powered by MarketReader technology.
Monday, September 15
VGT [+0.7%]
Vanguard Information Technology ETF (VGT)
The Vanguard Information Technology ETF (VGT) has seen a price increase of 0.7% since Friday. Key contributors to this performance include Apple Inc. (AAPL), which is experiencing strong pre-order demand for its iPhone 17 lineup, resulting in extended shipping times. Microsoft Corp. (MSFT) and Oracle Corp. (ORCL) also contributed positively, with Oracle's stock rising due to potential involvement in a TikTok deal and an increased price target from Berenberg. Intel Corp. (INTC) reported a notable rise after selling a 51% stake in its Altera business to Silver Lake, alongside adjustments to its 2025 non-GAAP operating expense target. Broadcom Inc. (AVGO) benefited from substantial growth and insider activity, receiving a new street-high price target and an Outperform rating from Macquarie.