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Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are considered to be leading indicators for the markets in general. A strong rally in the tech sector pushed many of these companies to new highs, but with the current state of affairs with China, semiconductors will have to rally again if markets want to return to record levels.

The May 31 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks decreased.

Intel Corp. (NASDAQ: INTC) saw its short interest decrease to 53.12 million shares. The previous level was 56.75 million. Intel shares were trading at $46.85 Wednesday morning, in a 52-week range of $42.36 to $59.59.

The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short dropped to 110.60 million from the previous reading of 114.85 million. Shares recently traded at $32.41, in a 52-week range of $14.54 to $34.30.

Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 21.23 million from the 41.50 million reported in the previous period. Shares were changing hands at $71.24, in a 52-week trading range of $49.10 to $90.34.

Short interest in Applied Materials Inc. (NASDAQ: AMAT) decreased slightly to 14.236 million shares. The previous reading was 14.24 million. Shares were trading at $43.75, in a 52-week range of $28.79 to $51.59.

Micron Technology Inc. (NASDAQ: MU) saw its short interest grow to 42.44 million shares from the previous reading of 37.67 million. Shares were trading at $34.84, in a 52-week range of $28.39 to $61.83.

And the short interest in Broadcom Inc. (NASDAQ: AVGO) increased to 6.18 million shares from the previous 4.83 million. Shares were last seen at $283.48, in a 52-week range of $197.46 to $323.20.