💻 VGT Rises as Microsoft Unveils Major Buyback, NVIDIA Powers AI Demand, and Intel Expands with AWS | Tech Sector Insights
Key contributors to this performance include Microsoft (MSFT), which announced a 10% increase in its quarterly dividend to 0.83 per share and a new $60 billion share repurchase program, coinciding with its annual shareholders meeting scheduled for December 10, 2024.
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Tuesday, September 17
VGT [+1.6%]
The Vanguard Information Technology ETF (VGT) has experienced a price increase of 1.6% since Monday. Key contributors to this performance include Microsoft (MSFT), which announced a 10% increase in its quarterly dividend to 0.83 per share and a new $60 billion share repurchase program, coinciding with its annual shareholders meeting scheduled for December 10, 2024. NVIDIA (NVDA) reported strong demand for its GPUs from notable tech leaders, highlighting the significance of AI technology in electric transportation. Intel (INTC) expanded its partnership with AWS through a multi-billion-dollar investment aimed at enhancing U.S.-based semiconductor manufacturing and establishing its foundry as an independent subsidiary. Other contributors included Broadcom (AVGO) and Advanced Micro Devices (AMD), both of which also recorded positive returns.