💻 Zoom Beats Earnings, Fuelling Tech Momentum and VGT Uptick, Competitive Fears Drag NVIDIA | Tech Sector Insights
Among VGT's holdings, notable performers included Apple and Microsoft, both of which increased in value, while Broadcom is poised to benefit from the AI chip market shift.
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Tuesday, November 25
VGT [+0.1%]
Vanguard Information Technology ETF (VGT)
The Nasdaq surged today, driven by optimism regarding potential interest rate cuts from the Federal Reserve, which positively influences technology stocks, including those in the Vanguard Information Technology ETF (VGT). Zoom Communications reported strong Q3 earnings, exceeding expectations and raising its stock buyback authorization, contributing to a rally in tech-heavy indices. The S&P 500 Index also increased, reflecting broader market movements that may influence VGT's modest price movement of 0.1% since the previous close. Among VGT's holdings, notable performers included Apple and Microsoft, both of which increased in value, while Broadcom is poised to benefit from the AI chip market shift. Additionally, Applied Materials received an upgrade from UBS, anticipating strong growth in the wafer fab equipment market, particularly due to rising DRAM spending from China.