Quick ReadMicrosoft short interest sits at an 11-year high while NVDA gained just 6% year to date despite posting 85% revenue growth. QQQ dropped 5% in a week while Health Care and Financials posted outsized gains, validating Piper Sandler's rotation out of tech since February. On CNBC's Morning Call Sheet roundtable on July 29, Piper Sandler chief market technician Craig Johnson made a firm call against the Magnificent 7 and explained why he instead prefers the Health Care and Financial sectors today. Microsoft Short Interest Is Flashing a Decade-High WarningJohnson zeroed in on Microsoft (NASDAQ:MSFT) and the warning signal he's seeing. "Short interest is the highest percentage of the float since 2015, and we've seen the largest increase in short interest in Microsoft of any of the Mag-7."