“Between April 15 and April 30, short interest [on AAPL] doubled again to a record 41.6 million shares,” Philip Elmer-DeWitt reports for Fortune. “It was during that fortnight — on April 19, two trading days before Apple’s Q2 2013 earnings report — that Apple’s share price touched $385.10, its lowest price in 16 months.”
“On that day, the stock’s value, ex cash, was lower than it was in the fall of 2000,” P.E.D. reports, “when you could buy Apple for a split-adjusted price of $7 a share.”
P.E.D. reports, “The good news for Apple investors is that the muggers have since backed off a bit. By May 15, Apple’s short interest had fallen to 26 million shares, down 37.6% in the space of two weeks. Falling short interest, just to be clear, is a sign that the bears have become more bullish.”
Read more in the full article here.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]