Chip stocks are under pressure again today. NVDA leads the Nasdaq lower as rising bond yields spook investors. The index is falling for the second straight session. Short interest in NVDA remains light at just 1.3% of free float — the selling is macro-driven, not short-led.
ORCL is in focus for a different reason. The tech giant announced 21,000 job cuts, the latest major tech company to trim its workforce as AI reshapes operations. Senator Elizabeth Warren warned publicly that AI could eliminate millions of jobs. The Oracle cuts add fresh fuel to that debate.
SpaceX shares dropped more than 16% after a sharp rise in US bond yields eroded its post-IPO premium. The stock shed around $400 billion in market value in a single session. It is a dramatic reversal after the $86 billion IPO windfall that had energised risk appetite.
MU reports Q3 2026 results after the close today. The chip giant carries short interest of just 3.4% of free float. Options activity has been elevated all week around the print. holds its Q4 call this morning.
DD grabbed the headline analyst call. Morgan Stanley tripled its price target to $156, tied to DuPont completing its business separation. Wolfe Research rotated within retail — upgrading TGT to Buy while cutting HD to Hold.
European stocks slid broadly as rate fears crossed the Atlantic. Defence names bucked the trend after Ukraine ratified a €105 billion EU loan deal. South Korean tech stocks fell sharply overnight, following Wall Street's AI-linked losses.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
