Short sellers extended their push into software and chips as August ends. KVYO short interest jumped nearly 7 points to 19.9% of free float this week. SPCX climbed to 23.9% SI % FF. CAPR saw the sharpest move — up 9.2 points to 45.6%. Options flow backed up the bearish tone. Negative bets dominated weekly flow in NVDA, AAPL, and MSFT. The S&P 500 and Nasdaq closed lower as a chip stock rebound ran out of steam.
The week ahead is heavy with results. AVGO reports Wednesday after the close. The $1.75 trillion chipmaker carries just 1.2% short interest. AI networking guidance will be the number to watch. and both report Tuesday. posts fiscal Q1 first thing Tuesday morning.
ADSK was the standout upgrade story. Three firms raised targets simultaneously. UBS moved to $325 and BNP Paribas to $300. WDAY drew conflicting calls — Wells Fargo raised its target while Freedom Broker cut to Hold.
France overtook Italy as European bond investors' top worry. French borrowing costs have exceeded Italy's for much of the summer ahead of the budget season. European stocks slid broadly, though defense names held up after Ukraine ratified a €105 billion EU loan deal. In credit markets, zero-interest convertible bond issuance is on track for a record year. High AI-linked stock volatility is pushing companies to limit borrowing costs via this structure.
Bill Gates filed purchases of over $204M in RSG shares last week — a strong signal from one of the market's most-watched non-executive investors.
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