“The most recent short interest update shows Apple’s number at a new 2014 low,” Bill Maurer writes for Seeking Alpha.
“Short interest in mid-July was at its lowest point since the last update in 2013, where the split-adjusted number was around 99 million shares,” Maurer writes. “Before that, the last sub-100 million split-adjusted number was in August of 2012.”
“With Apple shares racing towards their all-time highs, it seems logical that shorts are covering, especially considering the strength of Apple’s buyback. Shares have hit a new 52-week high after the latest quarterly report, even though the report was mixed. Investors are buying Apple ahead of the iPhone 6 launch, and shorts are running away,” Maurer writes. “I think that pattern will continue, and Apple seems destined to cross $100 rather soon.”
Read more in the full article here.
I have filters on my email to delete messages with “Bill Maurer” in the title and or description coming from SeekingAlpha. I recommend you all do the same. He is a click gore and writes in a way to create strong reactions so he gets more clicks. His articles contain no new data and are anecdotal.
You can’t keep a good man down.
Apple won’t be reaching $100 today. The market seems to be in a red funk. It’s very encouraging to see Apple steadily creeping towards $101 each week and I feel certain it will reach that mark by mid-August barring any major market collapse. I think the news media has already tried enough shenanigans to hold Apple down by now.
Amazon fscked it royally and spooked the entire tech market. Also Microsoft is ever lining up to be the next Enron.
I’d expect lots of sell-off today mainly because of Bezo and Ballmer.
Even though the report was mixed. Good news mixed with great news. Good job, though, you got your dig in, so you’ll get your bonus from your employer.
Yeah, seriously. iPad sales were down (expected, in a way) while Mac sales climbed more than enough to cover (unexpected).
Apple will pop $100 tomorrow.