Tech stocks are doing the heavy lifting today. Intel has surged 193% year-to-date on AI optimism and now leads the RSI screen at 86 — deep into overbought territory. AMD isn't far behind, up 66% YTD with its RSI hitting 81. Analysts lifted INTC's consensus target to $81.65 and boosted DDOG's target by nearly 6% to $186.47 following results. Yet options traders are fading both rallies with puts. Bearish bets on Intel and AMD rank near the top of the large-cap universe — a clear split between price action and sentiment.
Earnings season is in full swing. SoundHound AI stumbled after mixed Q1 results. Opendoor Technologies guided Q2 sales to $900M — well short of the $1.13B estimate — sending a warning shot on housing demand. beat Q1 estimates and guided Q2 in line, a modest positive for the jobs market. On the European side, announced a $1.4B three-year buyback — a sizeable capital return signal from the Swiss tech hardware maker. hit a $1 trillion market cap milestone on AI memory chip euphoria, pushing South Korea's Kospi to a record.
The biggest insider story of the week: Magnetar Financial filed a staggering $884M sale in CoreWeave, unloading over 7.1 million shares. CEO exits at Comfort Systems USA and APi Group add to the cautious tone. On the short side, Wolfspeed short interest hit 57% of free float — up 6.4 points in a week — with availability near zero at just 0.7%. Lucid Group remains a squeeze candidate at 32.6% SI with near-zero shares to borrow.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
