Key Takeaways
- • The CFTC reported that hedge funds reduced their short positions in the Japanese yen even as the yen weakened slightly against the U.S. dollar, per the article's reading of the October 23, 2026 data.
- • Speculative positions betting on a stronger U.S. dollar fell to under $40 billion from $44.5 billion the prior week.
- • Hedge funds ramped up short bets on the euro to their highest level since 2020, while bullish sentiment toward the British pound and Australian dollar grew and bearish bets on the Canadian dollar intensified.
- • Super Micro Computer (SMCI), with a market capitalization of about $21.64 billion, trades at a Price-to-Sales ratio of about 0.56, and its GF Score is 86/100, with a valuation rank of only 2/10.
- • Insiders sold $24.44 million of SMCI shares over the last three months, while eight gurus tracked by GuruFocus hold positions, seven of them adding to their stakes.
Summary
According to the U.S. Commodity Futures Trading Commission (CFTC), hedge funds reduced their short positions in the Japanese yen on October 23, 2026, despite a slight weakening of the yen against the U.S. dollar. The report points to a potential shift in market sentiment. Over the same period, hedge funds increased their short bets on the euro to the highest level since 2020. Bullish sentiment toward the British pound and Australian dollar grew, while bearish positioning on the Canadian dollar intensified. Total positions betting on a stronger U.S. dollar fell to under $40 billion from $44.5 billion the previous week.
The article also profiles Super Micro Computer Inc (SMCI), a San Jose, California-based designer and manufacturer of high-performance servers, storage systems and networking devices, whose primary customers include data center operators, cloud service providers and enterprises. The company has a market capitalization of approximately $21.64 billion. Its Price-to-Sales ratio of about 0.56 sits well below its historical median. Because the company is currently unprofitable and cash-flow negative, the article notes that earnings-based metrics such as P/E are not applicable.
GuruFocus, the article's source, assigns SMCI a GF Score of 86/100, with growth rated 10/10, profitability 8/10, momentum 8/10, financial strength 7/10 and valuation 2/10. Its proprietary GF Value of $91.91 implies the stock is undervalued by about 64.2%, although the article cautions that this figure should be interpreted carefully given the company's financial challenges. Eight gurus hold positions in SMCI, with seven adding to their stakes and two trimming. Against this, insiders sold $24.44 million of shares over the last three months, which the article flags as a potential concern.
The article also profiles Super Micro Computer Inc (SMCI), a San Jose, California-based designer and manufacturer of high-performance servers, storage systems and networking devices, whose primary customers include data center operators, cloud service providers and enterprises. The company has a market capitalization of approximately $21.64 billion. Its Price-to-Sales ratio of about 0.56 sits well below its historical median. Because the company is currently unprofitable and cash-flow negative, the article notes that earnings-based metrics such as P/E are not applicable.
GuruFocus, the article's source, assigns SMCI a GF Score of 86/100, with growth rated 10/10, profitability 8/10, momentum 8/10, financial strength 7/10 and valuation 2/10. Its proprietary GF Value of $91.91 implies the stock is undervalued by about 64.2%, although the article cautions that this figure should be interpreted carefully given the company's financial challenges. Eight gurus hold positions in SMCI, with seven adding to their stakes and two trimming. Against this, insiders sold $24.44 million of shares over the last three months, which the article flags as a potential concern.
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