iShares Expanded Tech-Software ETF Declines Significantly
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: NASDAQ.COM
- ETF Decline: The iShares Expanded Tech-Software Sector ETF fell approximately 6% in Thursday afternoon trading, indicating overall weakness in the sector that may impact investor confidence and lead to capital outflows.
- Weak Individual Stocks: Within the ETF, shares of Atlassian dropped about 12.7%, while Microsoft shares fell around 12%, reflecting a pessimistic market outlook on these tech companies, which could affect their future investment appeal.
- Market Reaction: The widespread decline in tech stocks may prompt investors to reassess their portfolios in the tech sector, potentially shifting capital towards other industries or asset classes that are performing better.
- Investor Sentiment: The poor performance of the ETF could raise concerns among investors regarding the tech industry, especially in the current economic climate, potentially exacerbating market volatility and uncertainty.
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Analyst Views on WFRD
Wall Street analysts forecast WFRD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WFRD is 91.71 USD with a low forecast of 73.00 USD and a high forecast of 111.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 91.440
Low
73.00
Averages
91.71
High
111.00
Current: 91.440
Low
73.00
Averages
91.71
High
111.00
About WFRD
Weatherford International plc is a global energy services company. The Company is engaged in providing equipment and services used in the drilling, evaluation, well construction, completion, production, intervention and responsible abandonment of wells in the oil and natural gas exploration and production industry as well as new energy platforms. The Company operates through three segments: Drilling and Evaluation (DRE), Well Construction and Completions (WCC), and Production and Intervention (PRI). DRE offers a suite of services, including managed pressure drilling, drilling services, wireline, and drilling fluids. WCC offers products and services for well integrity assurance across the full life cycle of the well. PRI offers a suite of reservoir stimulation designs and engineering capabilities that isolate zones and unlock reserves in conventional and unconventional wells, deep water, and aging reservoirs. Its platforms include ForeSite, CygNet, CENTRO, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
iShares Expanded Tech-Software ETF Declines Significantly
- ETF Decline: The iShares Expanded Tech-Software Sector ETF fell approximately 6% in Thursday afternoon trading, indicating overall weakness in the sector that may impact investor confidence and lead to capital outflows.
- Weak Individual Stocks: Within the ETF, shares of Atlassian dropped about 12.7%, while Microsoft shares fell around 12%, reflecting a pessimistic market outlook on these tech companies, which could affect their future investment appeal.
- Market Reaction: The widespread decline in tech stocks may prompt investors to reassess their portfolios in the tech sector, potentially shifting capital towards other industries or asset classes that are performing better.
- Investor Sentiment: The poor performance of the ETF could raise concerns among investors regarding the tech industry, especially in the current economic climate, potentially exacerbating market volatility and uncertainty.
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U.S. Plans to Receive 30-50 Million Barrels of Venezuelan Crude Amid Political Oversight
- Policy Impact: President Trump announced that interim authorities in Venezuela agreed to transfer 30-50 million barrels of sanctioned crude to the U.S., marking a significant escalation in Washington's direct involvement in Venezuelan oil flows, which could reshape the global oil supply-demand landscape.
- Supply Management: Energy strategist Jeff Krimmel emphasized that Venezuelan oil supply will be tightly controlled by U.S. policy rather than flowing freely, leading to a regionalization of global oil trade that affects international price signals.
- Market Reaction: While the market generally anticipates Venezuelan oil re-entering the global market, Krimmel argues that by the time new production comes online, the global supply surplus may have significantly diminished, thus not driving prices lower.
- Beneficiary Companies: Oilfield service companies such as Baker Hughes, Halliburton, and Weatherford are likely to benefit from Venezuela's oil recovery, but Krimmel remains cautious about the involvement of major U.S. producers, suggesting they may not significantly alter their capital plans.
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