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.
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. holds at 34.7% shorted. Bears are not backing down on EV names.
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.
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.
HD and PGR report Tuesday. TGT, LOW, and ADI follow Wednesday. Results will test whether consumer spending holds up heading into summer.
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.
