Looking Into Apple's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Apple Inc. (AAPL) has seen a 4.41% increase in short interest since its last report, with 110.65 million shares sold short, representing 0.71% of its float. The average time to cover these short positions is 2.63 days. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Apple's short interest is below its peer group average of 6.88%.
December 25, 2023 | 3:45 pm
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NEUTRAL IMPACT
Apple's short interest has increased, which may indicate bearish sentiment among traders, but it's still below the peer group average.
The increase in short interest suggests that some investors are expecting the price of AAPL to decline. However, since the short interest is relatively low compared to its peers and represents a small percentage of the float, the impact on the stock price may be limited in the short term. Additionally, the article suggests that an increase in short interest does not necessarily predict a near-term price drop, which is why the score is neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 80