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Investing

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

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By Douglas A. McIntyre Published
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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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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