Short Sellers Exit Apple (AAPL)
April 25, 2008 by Douglas A. McIntyreMaybe some of the investors short Apple (NASDAQ: AAPL) figured the company would have a good quarter. Shares sold short in the consumer electronics firm fell 3.8 million shares to 18.4 million shares. The figures compare numbers on April 15 to those on March 30.
On the 15th, the stock closed at $148.38. Earnings pushed that number to $170.41 earlier today, a move of almost 15%.
Investors won’t have another shot at Apple’s earnings for 90 days. But, if the company releases a 3G iPhone during June, the stock may have another $20 in it.
Watch for the short interest in the stock to drop again at the end of this month.
Douglas A. McIntyre
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