Technology
Short Interest: Chip Stocks Follow PC Forecasts (INTC, AMD, QCOM, ARMH, MU, SNDK, BRCM, MRVL, NVDA, TXN, AMAT, SMH)
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We have tracked the key short interest changes as of September 28 in the following semiconductor leaders: Intel Corp. (NASDAQ: INTC), Advanced Micro Devices Inc. (NYSE: AMD), Micron Technology Inc. (NASDAQ: MU), SanDisk Corp. (NASDAQ: SNDK), Qualcomm Inc. (NASDAQ: QCOM), ARM Holdings PLC (NASDAQ: ARMH), Broadcom Corp. (NASDAQ: BRCM), Marvell Technology Group Ltd. (NASDAQ: MRVL), Nvdia Corp. (NASDAQ: NVDA), Texas Instruments Inc. (NASDAQ: TXN) and Applied Materials Inc. (NASDAQ: AMAT). We also chose to look at how the Market Vectors Semiconductor ETF (NYSEMKT: SMH) has held up.
Intel Corp. (NASDAQ: INTC) short interest rose 3.2% to 178.24 million shares. About 3.6% of Intel’s float is now short.
Advanced Micro Devices Inc. (NYSE: AMD) saw short interest rise 17.6% to 142.22 million shares, 23.7% of the company’s total float.
Qualcomm Inc. (NASDAQ: QCOM) short interest rose 33.9% to 23.27 million shares, which represents just 1.4% of the company’s float.
ARM Holdings PLC (NASDAQ: ARMH) saw a 9.6% rise in short interest to 7.35 million shares, which represents about 1.6% of the firm’s float.
Micron Technology Inc. (NASDAQ: MU) showed a decline of 7.6% in short interest, to 58 million shares, about 5.8% of Micron’s float.
SanDisk Corp. (NASDAQ: SNDK) saw short interest fall by 0.9% to 9.89 million shares, or 4.1% of the company’s float.
Broadcom Corp. (NASDAQ: BRCM) saw short interest rise by 1.1% to 6.47 million shares, or 1.3% of the total float.
Marvell Technology Group Ltd. (NASDAQ: MRVL) posted a 1.8% decline in short interest, to 5.8 million shares, about 1.3% of Marvell’s float.
Nvidia Corp. (NASDAQ: NVDA) short interest fell by 0.3%, to 14.86 million shares or about 2.5% of the company’s float.
Texas Instruments Inc. (NASDAQ: TXN) saw short interest fall by 12.4% to 17.63 million shares or 1.6% of the company’s float.
Applied Materials Inc. (NASDAQ: AMAT) saw short interest falling 4.8% to 18.29 million shares or about 1.5% of the company’s float.
The Market Vectors Semiconductor ETF (NYSEMKT: SMH) showed a rise of 18.1% in short interest to 5.86 million shares.
Most chip stocks have been hit by weak forecasts for PC shipments, and now Qualcomm saw a spike in short interest as competition continues to cut into the company’s business. Any chip associated with PCs or peripherals, whether in a printer or disk drive or whatever, is not expected to do well.
Paul Ausick
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