“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.”
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MacDailyNews Take: There are much better bets than betting against Apple.