“With a modestly positive earnings report behind them, skeptics about Apple Inc. have increased the number of shares of the stock sold short by 6.4 million to 50.9 million, an increase of almost 15% for the period that ended July 29,” Douglas A. McIntyre reports for 24/7 Wall St. “None of the top 15 Nasdaq companies by short interest size had such a large increase.”
“Over the past month, Apple’s share price has risen 12% to $108,” McIntyre reports. “However, with a 3% increase this year, it has not matched the rise in the Nasdaq.”
McIntyre reports, “Apple remains the company with the world’s largest market cap, at $586 billion.”
Read more in the full article here.
MacDailyNews Take: There are much better bets than betting against Apple.
Let’s hope the shorters get burnt – badly burnt.
“With a modestly positive earnings report behind them, skeptics about Apple Inc. (NASDAQ: AAPL) have increased the number of shares of the stock sold short by 6.4 million to 50.9 million, an increase of almost 15% for the period that ended July 29. None of the top 15 Nasdaq companies by short interest size had such a large increase.”
I must have missed that. Does anyone know where I can find the earnings report of skeptics about Apple Inc.?
Are they listed on the Dow?
With Tim Cook at the helm, shorting Apple has been the most common way to make money off the stock. It has under performed massively, and that’s being kind.
Because no one every shorted Apple before Tim Cook, right? NOT !
My guess is that with the stock up, all the shorts are betting for it to go down again.
Aapl was plagued with short activity for the last few years. It has been quiet but now we are back to normal.
An increase in short selling is a bullish sign: when the stock pops higher, all those short sellers have to buy to cover their positions. How much can a short seller lose when a stock goes up? Sky is the limit.
May the AAPL shorts get their just deserves …. and get well and truly burn’t, because this stock is going to new highs!!
The shorts are in the whole big time. AAPL is up to 108 from 97 in the last two weeks. Burn baby burn!