Micron in the Crosshairs as Bears and Analysts Circle

The Week's Dominant Theme

Micron Technology is everywhere today. Short sellers piled in ahead of the chipmaker's earnings print. Options bears lean hard on the name too. Analysts have been trimming targets across tech. All roads point to Wednesday's close, when Micron reports.

Short Sellers Make Bold Moves

Bears are not just circling Micron. They stormed MiniMed Group this week, pushing its SI % of FF from 38.5% to 68.3% — a near-30 percentage point surge in seven days. The stock is up 40% over three months. Short sellers are fighting that rally hard.

Wolfspeed stays one of the market's most shorted names at 80.4% SI % FF, with zero borrow available. Chewy saw meaningful short covering — SI % FF fell from 75% to 67.2% in a week.

NVIDIA Insider Sells $411M

NVIDIA board director Mark Stevens filed today disclosing he sold roughly $411 million in stock between August 31 and September 2. He offloaded about 1.79 million shares at $220–$226 each. It remains unclear whether the sales were part of a pre-arranged 10b5-1 plan. Discretionary sales of this size carry a far stronger signal than planned ones.

Analyst Targets Head Lower

Analysts cut the consensus target on Paychex by nearly 3% to $113.93. The stock's RSI sits at a deeply oversold 22. Charles River Laboratories drew 13 sell ratings from 16 analysts, despite a 47.6% year-to-date gain. Costco and Delta Air Lines also saw targets trimmed today.

Events Calendar

UK construction group Kier Group reports this morning. Carnival and CarMax headline Tuesday. Micron's Wednesday print is the week's marquee event — at a $1.2 trillion market cap, the whole chip sector is watching.