Short sellers who have bet against tech shares hit the exits during the period which ended on March 31. The short interest in the world’s largest chip company, Intel (NASDAQ: INTC), dropped 3% to 56.7 million shares. Shares sold short in Cisco (NASDAQ: CSCO) dropped 13% to 54.6 million.
Shares short in graphics chip leader Nvidia (NASDAQ: NVDA) dropped 17% to 23.1 million. The short interest in RF Microsystems (NASDAQ: RFMD) dropped 9% to 18 million. Shares short in Seagate (NASDAQ: STX) dropped 11% to 12.4 million shares. The short interest in Qualcomm (NASDAQ: QCOM) fell by 6% to 17.8 million.
Although there is no way to measure the real interest of short sellers, it may be that the proliferation of computers, tablets, and smartphones is great enough to cause Wall St. to believe that sales of many chip and infrastructure firms will rise.
Short interest among other widely traded stocks was mixed: Level 3 (NASDAQ: LVLT) off 4% to 89.4 million, Research In Motion (NASDAQ: RIMM) up 19% to 28.9 million, Sprint Nextel (NYSE: S) down 14% to 94.4 million, AT&T (NYSE: T) up 10% to 56.8 million. and CBS (NYSE: CBS) up 90% to 21.1 million
Data from NYSE and NASDAQ.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
