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Technology Sector Update for 07/14/2020: NOK, WIT, VMW, XLK, SOXX

Technology stocks were mixed premarket Tuesday as the Technology Select Sector SPDR ETF (XLK) was down 0.79% and the Semiconductor Sector Index Fund (SOXX) was 0.15% higher in recent trading.

Nokia (NOK) was advancing by more than 1% after saying it has rolled out a new software that would help migrate 4G/LTE radios to 5G/NR without the need for tower visits and site engineering.

Wipro (WIT) was slightly higher as it reported fiscal Q1 EPS of INR 4.19 ($0.06), up from INR3.96 a year earlier, and higher than the INR3.70 average estimate of analysts surveyed by Capital IQ.

VMware (VMW) was marginally advancing after it released the results of its first US-focused cybersecurity threat report, finding an increase in cyberattack volume and breaches in the past year has led to greater cyber defense investment among US businesses.

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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