Chips, Shorts, and Big Earnings on Deck

AI Fear Meets Short-Selling Fury

Short sellers are repositioning fast. Wolfspeed saw shorts cover aggressively, with SI % of FF dropping nearly 19 points to 112%. Call centre stocks are under sustained attack. Concentrix sits at 23% SI % FF. TTEC Holdings holds 32%. Hedge funds are betting AI will gut the outsourcing sector. The FT flagged heavy institutional positioning against the group.

Dave Inc. is the week's most notable new short target. SI % of FF jumped 8.8 points to 29%. Bears are also building fast in SLM Corporation — Sallie Mae — now at 16%, as student loan policy uncertainty drags on.

Insiders Sell Hundreds of Millions

Two blockbuster insider disposals landed this week. NVDA Director Mark Stevens filed back-to-back block sales totalling $199M on June 2 and June 4. The Walton Family Holdings Trust sold $184M of WMT shares on June 2. Not everyone is selling. Rheinmetall CEO Armin Papperger bought RHM shares worth $5.8M — a sign of continued confidence in European defence.

Earnings Week Heats Up

ORCL, ADBE, and LEN all report between Tuesday and Wednesday this week. Oracle's cloud momentum and Adobe's AI monetisation story are the key watch points. Lennar's order trends will set the tone for homebuilders. RBRK reports Wednesday with analysts lifting targets and an ORTEX momentum score of 74/100.

Street Cuts Utilities, Lifts Chips

Analysts trimmed targets on at least seven US utility names this week — including DUK, ETR, and AEP. Rising rates and debt loads are the pressure points. Broadcom moved the other way. Consensus targets rose to $517.61. AI networking demand keeps the bullish calls coming.