VGT is trading 1.5% up today as Cisco Systems reported record fiscal Q3 revenue of $15.8 billion and raised its full-year AI infrastructure order target to $9 billion, signaling strong demand for AI-ready networking equipment.
- The broader technology sector is benefiting from robust corporate earnings momentum, with the Nasdaq Composite up 0.98% on optimism around AI infrastructure investments and potential trade relief from China summit talks.
- Investor sentiment has shifted from inflation concerns to growth optimism within the semiconductor and networking subsectors ahead of the Applied Materials earnings report after the market close.