Apple Short Interest Rises As Stock Falls
January short interest in Apple (AAPL) rose 1.2 million shares to 25.7 million. The short statistics were measured on January 12 just as Apple was rallying toward $97.10 on January 15. Recently the stock has traded below $85. It may…
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January short interest in Apple (AAPL) rose 1.2 million shares to 25.7 million. The short statistics were measured on January 12 just as Apple was rallying toward $97.10 on January 15. Recently the stock has traded below $85.
It may be that some short sellers believed the "buying the rumor and selling the news" would work with Apple. The stock made a sharp move up as earnings were releases. They were spectacular, but guidance for the first calendar quarter was tepid, and there is a concern that the stock will languish, at least until the new iPhone is released mid-year. The options back-dating investigation at the company has turned some on Wall St. cautious.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
