Technology Sector Update for 02/22/2024: NVDA, SMCI, NICE, XLK, XSD

Technology stocks were advancing pre-bell Thursday, with the Technology Select Sector SPDR Fund (XLK) and the SPDR S&P Semiconductor ETF (XSD) both up 2.4%.

NVIDIA (NVDA) was more than 11% higher after it overnight reported higher fiscal Q4 non-GAAP earnings and revenue.

Super Micro Computer (SMCI) was up nearly 12% after it disclosed late Wednesday plans for a $1.50 billion private placement of convertible senior notes due 2029.

NICE (NICE) was over 5% higher in value after it reported higher Q4 non-GAAP earnings and revenue in addition to issuing Q1 and fiscal 2024 adjusted earnings outlook that surpassed Capital IQ analysts' estimates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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