The chip sector is taking hits from multiple angles today. NVDA has seen its ORTEX momentum score drop sharply, sliding from 62.8 on June 15 to 55.0 today. Bearish options flow is piling into the name, with traders buying short-dated puts for near-term protection. MU reports Q3 2026 results tonight after the close. Options positioning tilts defensive ahead of the binary event. Short interest in Micron sits at just 3.4% of free float — bears are cautious, but options traders are hedging hard.
ORCL is cutting 21,000 jobs. Senator Elizabeth Warren flagged the move as evidence of AI eliminating workers at scale. The cuts add to a growing wave of Big Tech headcount reductions tied to AI-driven restructuring.
Rate fears are back as the dominant macro driver. That has Nasdaq under pressure for a second straight session. Short sellers agree — bearish bets on Wolfspeed hit 104.7% of free float, up 15.8 percentage points in one week. Zero shares are available to borrow.
Morgan Stanley tripled its price target on DD to $156, tied to DuPont completing its corporate separation. Wolfe Research upgraded TGT to Buy while downgrading HD to Hold — a clear shift toward discount retail over home improvement. NKE also reports earnings at the end of the month, drawing fresh analyst attention.
Five insiders at AMAT filed over $87 million in sales last week. CEO Gary Dickerson alone sold more than $39 million. The coordinated filings at the chip-equipment giant are hard to ignore heading into a volatile stretch for semiconductors.
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.
