Chips, Bears & Big Bets: Friday's Market Pulse

Semiconductor Bull Run Dominates

The chip sector is the week's standout theme. Four analyst firms raised price targets on AMAT this week. TD Cowen went to $525, B. Riley to $550. Options markets are reinforcing the bullish view. NVDA, MU, and AMD all attracted heavy call-side flow. Micron is up 172% year-to-date with RSI at 75.6. The biggest near-term test: NVDA reports after the close on May 20. Any guidance miss could shake the whole sector.

Short Sellers Double Down

Bears are busy across several names. WOLF is the most extreme case. Short interest jumped nearly 29 percentage points in a week. SI now stands at 89.3% of free float, even as the stock has tripled in three months. CVNA saw a fivefold surge in SI%, rising from 2.1% to 10.1% in seven days. LCID holds at 34.7% shorted. Bears are not backing down on EV names.

Insiders Buy Waste, Sell Cola

Bill Gates filed over $85M in purchases of RSG shares across May 11–13. WCN CEO Ronald Mittelstaedt added $7.6M of his own stock on May 13. Both moves point to confidence in waste infrastructure. On the other side, KO CEO James Quincey filed a $15.8M sale. FOUR founder Jared Isaacman returned to buying with $15.9M in purchases.

European Markets Navigate Politics

UK gilts came under pressure Friday as Greater Manchester Mayor Andy Burnham challenged Prime Minister Starmer on borrowing limits. European markets finished higher despite the political noise. HSBA paused its $4bn private credit investment plan, a notable reversal from last year's push into alternative lending.

Eyes on Next Week

HD and PGR report Tuesday. TGT, LOW, and ADI follow Wednesday. Results will test whether consumer spending holds up heading into summer.