ETF News

Information Technology Sector Dragged Down by Apple & Microsoft

The S&P IT sector was hit by Microsoft (MSFT) and Apple (AAPL), down 2.23% and 4.97% for the week respectively. The European Commission has slapped the Cupertino giant with a hefty €1.84 billion antitrust fine over allegations that the company stifled competition in the music streaming market.

While a general weakness was being seen in the broader tech sector in the wake of this news (S&P IT index down 1.09% for the week), semiconductor stocks were bucking the trend. A standout in this sphere was Super Micro Computer Inc. (SMCI), which experienced a significant jump, up over 25% week-over-week. The surge came in anticipation of the company's upcoming addition to the S&P 500 on March 18. Nvidia (NVDA) stocks were also in the ascendency, up 6.38% over the week.

Spotlight on Semiconductor and AI ETFs

Within the Information Technology sector, the semiconductor segment emerged as a standout performer, recording a 0.86% increase over the week while the overall sector lost 1.58%. This surge underscores the semiconductor industry's pivotal role in powering a vast array of technologies, from consumer electronics to advanced computing solutions. Furthermore, ETFs focusing on Robotics & Automation, themes closely tied to artificial intelligence, also gained momentum with a weekly gain of 2.83%, highlighting investors' sustained interest in leading-edge technologies.

Group Data:

Index Data:

Funds Specific Data:

Please note this article is for information purposes only and does not in any way constitute investment advice. It is essential that you seek advice from a registered financial professional prior to making any investment decision.