Short Sellers Increase Bets Against Big Tech
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Short sellers increased their gambles against big-tech shares in the period that ended Nov. 30. These traders seem to expect a sell-off in the sector soon, based on short-selling data from NASDAQ.
Shares sold short in Intel (INTC
) rose 81% to 90.1 million. The short interest in Microsoft (MSFT
) was up 6% to 75.7 million shares. Shares sold short in Dell (DELL
) rose 17% to 48.8 million.
Shares sold short in enterprise software firms also rose. Shares short in Oracle (ORCL
) moved higher by 2% to 29 million. The short interest in Cisco (CSCO
) was up 3% to 44.4 million. Shares short in Symantec (SYMC
) were up 13% to 22.7 million.
Short sellers must expect that data released over the next few weeks on chip, PC, and server sales will be poor.