Short Sellers Extend Strong Bets Against Techs (CSCO)(INTC)(DELL)(JAVA)(BRCM)(QCOM)(AMGN)(SIRI)(SBUX)(YHOO)

Investing

Published: June 25, 2008 3:15 am

Based on data from Nasdaq as of June 13, short sellers made heavy bets against tech stocks. Many investors clearly think the sector is not immune from the current economic downturn.

The short interest in Cisco (CSCO) rose 14 million to 64.9 million. Shares short in Intel (INTC) moved up 8.5 million to 61.8 million. Short interest in Dell (DELL) jumped 10.5 million to 60.5 million. Shares short in Sun (JAVA) rocketed up 32.4 million to 57.1 million. The short interest in Broadcom (BRCM) moved up 3.7 million to 35.4 million. Shares short in Qualcomm (QCOM) moved up 2.2 million to 27.5 million.

Other notable stocks with rising short interest include Amgen (AMGN) where shares short rose 25.8 million to 48.4 million, E*Trade where short interest was up 16.7 million to 122.5 million, Sirius (SIRI) with a short interest increase of 6.7 million to 148 million, and Starbucks (SBUX) where shares short moved up 6.3 million to 42.3 million.

Shares short in Yahoo! (YHOO) fell 19 million to 47.5 million.

Data from Nasdaq

Douglas A. McIntyre

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