Earnings Week Dominates as Bears Dig In

Earnings on Deck

This week is front-loaded with high-profile results. Super Micro Computer reports Q4 2026 on Tuesday. Bearish options flow has been building. Short score sits at 64 and days to cover is 2.5. Cisco Systems reports Wednesday after the bell. AI infrastructure revenue trends will be the main focus. Coherent Corp heads into its print after a stunning 44% weekly rally. Short sellers are holding their ground despite that move — a sign bears remain unconvinced.

Shorts Crowded, Borrow Drying Up

CoreWeave short sellers retreated after last week's print. Monday brings the next test. Hertz short interest hit 65.4% of free float with zero shares left to borrow. The trade is deeply crowded. Wolfspeed is in the same position — 78.6% short interest and no borrow available.

Analyst Moves

Workday picked up a downgrade. Its short interest of 14.6% already reflected market skepticism. Sandisk moved the other way — an upgrade lifted its buy count to two. Arista Networks received a higher target price of $240, supported by 29 buy ratings.

CEO Buys Signal Confidence

ACS Chairman Florentino Perez Rodriguez filed this week showing roughly $50M in purchases made July 29–31. Boston Scientific CEO Michael Mahoney filed an $9M purchase on August 5. CoStar Group founder Andrew Florance added $2.5M near multi-year lows.

Macro Backdrop

CNBC reports the S&P 500 and Nasdaq closed lower as a chip stock rebound faded. Iran tensions continue to weigh on European sentiment. Defense stocks found support after Ukraine ratified a $105 billion EU loan deal.