US Enterprise Hardware and Networking: UBS Crowding Data: Avg coverage positioning relatively consistent despite some notable deltas

研报英文原文证据摘录

US Enterprise Hardware and Networking: UBS Crowding Data: Avg coverage positioning relatively consistent despite some notable deltas

Global Research

16 July 2026ab

US Enterprise Hardware and Networking Equities

AmericasUBS Crowding Data: Avg coverage positioning

relatively consistent despite some notable deltas Technology

David Vogt

Analyst

david.vogt@ubs.com

Avg crowding score relatively unchanged as investors lean modestly long +1-212-713 4296

To examine the change in positioning over the past 90 days, we analyzed data in Andrew Spinola

conjunction with the UBS Quantitative Research team that has created a composite Analyst

crowding factor, based on a proprietary combination of multiple data sets. The UBS andrew.spinola@ubs.com

quant crowding scores for individual stocks across our coverage universe and for the +1-212-713 3766

sector against its index suggest a handful of surprises in our view, as well as investor Brian Luke

positioning changes that we think reflect the stock moves over the past 90 days. The Associate Analyst

"crowding" score highlights the extent of investor positioning in a stock with +30 a brian.luke@ubs.com

crowded long to -30 suggesting a crowded short. In aggregate, the data suggests +1-212-713 3819

investor positioning across our coverage is relatively consistent (+9.8) relative to three Nicolo Menez

months ago (+10.6). However, under the surface we point to some notable changes. Analyst

The most recent data indicates that Arista (+25), Keysight (+23), HPE (+23), Lumentum nicolo.menez@ubs.com

(+23), and Jabil (+22) registered the highest 'long crowding' quant scores. On the +1-212-713 3183

contrary, Axon (-10) and NetApp (-5) recorded the only 'short crowding' scores. Key

changes over the past 90 days include: