On October 30, Vanguard Information Technology ETF fell 3.02% in Pre-Market Trading, trading at $118.46/share, with turnover of $1.2706 million.
A clear catalyst emerged from the semiconductor complex: Intel projected fourth-quarter revenue of $15 billion to $16 billion, below the roughly $17 billion market expectation, while reports also said its finance chief expects the PC market to contract 12% this year and 10% next year, with second-half PC shipments down more than 20%.
The broader read-through for technology ETFs is that weaker PC demand and Intel's disappointing guidance weighed on chip sentiment ahead of the open. Supporting this linkage, a report noted the iShares Philadelphia Semiconductor ETF was down 5.07% in pre-market trading after Intel's outlook missed expectations, indicating sector-wide pressure across semiconductor-related holdings inside major technology funds.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
The fund employs an indexing investment approach designed to track the performance of the MSCI US Investable Market Index/Information Technology 25/50, an index made up of stocks of large, mid-size, and small U.S. companies within the information technology sector, as classified under the GICS. The Advisor attempts to replicate the target index by seeking to invest all of its assets in the stocks that make up the index, in order to hold each stock in approximately the same proportion as its weighting in the index. It is non-diversified.
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