“Shares of Apple (AAPL) had their worst day in nearly four years today as the stock dropped more than six percent and lost around $40 billion in market cap. The last time AAPL had a larger one-day decline was on 12/17/08,” Bespoke Investment Group writes for Seeking Alpha. “It has surely been a painful few days for AAPL longs.”
“At the same time, there have been a growing number of people betting against AAPL that may finally feel vindicated after trying to call the top in the stock for the last four years,” Bespoke writes. “As of the most recent reporting period (11/15), AAPL’s short interest as a percentage of float rose from 1.8% to 2.3%. This was the largest two-week increase since mid-February 2010, and it’s the highest short interest as a percent of float since April 2009.”
Read more in the full article here.
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