A tech selloff has rattled markets heading into a packed earnings week. Chip stocks posted their worst weekly performance in over a year. NVDA and AAPL were among the hardest hit as momentum trades unwound sharply. Analysts are now calling this a "buy the dip" setup — but uncertainty remains high going into results. GOOGL reports Wednesday, July 22, with a $2 trillion market cap on the line. AI search revenue and cloud growth are the key numbers to watch. Options hedging in TSLA has hit a two-year high ahead of its print, while META options flow has tilted bullish.
Wall Street turned on cable and telecom in one sweep. RBC and JP Morgan both cut CHTR on the same session — RBC slashed its target to $160 from $220. Charter already carries 25.5% SI % FF, meaning bears were positioned well ahead of the downgrades. and also saw targets reduced.
In Europe, RYA Ryanair warned that visibility has deteriorated and pulled its full-year profit outlook entirely. That's a significant red flag for European travel. The move signals that airline management cannot read demand far enough ahead to commit to forecasts.
GRPN Groupon hit 100% short utilization today — matching its 52-week high. Availability has collapsed to just 2.97% even as the stock has gained 61% this month. That's a textbook squeeze setup. Separately, traders are increasingly betting against SpaceX following its recent IPO, with the public vehicle SPCX sitting at 27.9% SI % FF, up 2.7 points on the week.
Intel reports Thursday after the close. Analyst targets have been trimmed ahead of results. The stock carries 2.8% SI % FF, but options flow reflects deep uncertainty about the semiconductor demand outlook.
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