AI Chips, Insider Exits, and a Big Earnings Week Ahead

AI Chips in the Spotlight

Memory and AI chip names are dominating markets this weekend. Micron leads bullish options bets among large-cap US stocks, up 207% year-to-date with analysts pencilling in a further 71% upside. Sandisk sits on the opposite side — options traders are piling in bearish wagers despite a 411% YTD rally. NVIDIA is drawing bets on both sides, suggesting genuine uncertainty heading into the week.

Earnings Week: Cisco and AMAT Front and Centre

The week's marquee event is Cisco reporting Q4 2026 results on Wednesday. The $479 billion networking giant faces scrutiny over AI infrastructure demand. Applied Materials also reports Wednesday — the $428 billion chip equipment maker is a key read on semiconductor spending. Coherent rounds out Wednesday's lineup, with AI data-centre connectivity in focus.

Analysts Split on Tech and Energy

Workday took a fresh downgrade, weighed down by 14.6% short interest. Datadog went the other way, with target prices nudging up to $282.85. Analysts upgraded Sandisk and fertiliser maker CF Industries to Buy. In energy, Devon Energy, ConocoPhillips, and Occidental all saw coverage changes on the same day — a clear sector rotation signal.

Major Insider Sale Flags in Europe and US

Illumina board member Keith Meister filed $148 million in two-day sales. Across the Atlantic, NEXT CEO Simon Wolfson disclosed a $35.9 million sale filed August 7. Both exits came near recent highs. On the short side, Hertz remains a squeeze risk with 65.4% SI and zero shares left to borrow.