Does Semiconductor Short Interest Hint at New Market Highs?
The August 30 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks decreased.
Semiconductor trends are considered to be leading indicators of technology and broader electronics demand. In a wider sense, semiconductor and tech stocks are seen as 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 continue hitting new record levels.
The August 30 short interest data have been compared with the previous report. Short interest in most of these selected semiconductor stocks decreased.
Intel Corp. (NASDAQ: INTC | INTC Price Prediction) saw its short interest decrease to 53.36 million shares. The previous level was 55.51 million. Its shares were trading at $52.79 Thursday morning, in a 52-week range of $42.36 to $59.59.
The number of Advanced Micro Devices Inc. (NASDAQ: AMD) shares short shrank to 130.48 million from the previous reading of 136.52 million. Shares recently traded at $29.76, in a 52-week range of $16.03 to $35.55.
Qualcomm Inc. (NASDAQ: QCOM) saw the number of its shares short drop to 25.32 million from the 28.40 million reported in the previous period. Shares were changing hands at $79.90, in a 52-week trading range of $49.10 to $90.34.
[nativounit]
Short interest in Applied Materials Inc. (NASDAQ: AMAT) increased to 16.85 million shares. The previous reading was 15.71 million. Shares traded at $51.56, in a 52-week range of $28.79 to $52.42.
Micron Technology Inc. (NASDAQ: MU) saw its short interest fall to 33.51 million shares from the previous reading of 34.47 million. Shares were trading at $50.48, in a 52-week range of $28.39 to $51.39.
And the short interest in Broadcom Inc. (NASDAQ: AVGO) decreased to 5.13 million shares from the previous 5.67 million. Shares were last seen at $298.01, in a 52-week range of $208.23 to $323.20.
[recirclink id=576426]
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
