Technology

Is Semiconductor Short Interest Hinting an End to the Tech Rally?

Chris Lange

Published: October 25, 2017 11:05 am

Last Updated: January 12, 2020 6:50 am

Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are considered to be leading indicators for the markets in general. A strong rally in the tech sector has pushed many of these companies to new highs, and both the Dow and S&P have recently closed near all-time highs.

The October 13 short interest data have been compared with the previous report. Short interest increased in most of these selected semiconductor stocks.

Intel Corp. (NASDAQ: INTC) saw its short interest increase to 131.85 million shares. The previous level was 116.01 million. Shares were last seen trading at $40.90, in a 52-week trading range of $33.23 to $41.05.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short decreased to 148.60 million from the previous level of 160.54 million. Shares recently traded at $12.95, in a 52-week range of $6.22 to $15.65. Note that, like Intel, AMD is one of the most shorted Nasdaq stocks.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short rise to 23.23 million, compared to the 21.58 million reported in the previous period. Shares were changing hands at $54.30, in a 52-week range of $48.92 to $71.62.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 15.29 million shares. The previous reading was 14.62 million. Shares were trading at $56.00, in a 52-week range of $28.02 to $56.73.

Micron Technology Inc. (NASDAQ: MU) saw its short interest decrease to 54.71 million shares from the previous reading of 55.33 million. Shares were trading at $41.30, in a 52-week range of $16.45 to $42.19.

And the short interest in Broadcom Ltd. (NASDAQ: AVGO) increased slightly to 3.87 million shares in the period, from the previous 3.81 million. Shares were last seen at $247.30, in a 52-week range of $160.62 to $259.36.