Apple Short Interest Plunges 36,775,085 Shares

By Douglas A. McIntyre Updated Jan 13, 6:21AM EST · Published Jun 27, 8:15AM EDT

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Apple Short Interest Plunges 36,775,085 Shares — © courtesy of Apple Inc.

[cnxvideo id=”620993″ placement=”ros”]Just about the time Apple (NASDAQ: AAPL) products were being blocked in China, which could take away its fastest growing market, its short interest for the period that ended June 15 plunged by 36,775,085 to 62,924,036, a 36.9% fall.

Apple’s shares are flat over the last month, when the 3% drop due to Brexit is dropped out. Apple does have exposure in the EU as do many other consumer electronics companies

At the same time it has had problems in China, it has begun to do more business in India, the world’s second largest nation by population. Apple has two advantages there. The first is its lack of presence, which means it could make big market share gains. The other is that India’s market is not full of smartphones yet, which makes it a fertile market.

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Other issues recently:

Apple says it is moving in the direction of having an “edgeless” screen, which would jump it ahead of its competition
Analysts have begun to be more optimistic about the current quarter
As always, there is a great deal of anticipation for Apple’s next iPhone–the iPhone 7
More and more analysts believe wearables like Apple Watch are part of a market which will grow rapidly
There is hope that Apple TV can make a run at Netflix (NASDAQ: NFLX)

Apple is no longer the world’s leader in market cap. That has gone to Google (NASDAQ: GOOGL). Over the next two quarters Apple will demonstrate whether it deserves that crown back, or whether it will fall further down the market cap ladder.

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About the Author Douglas A. McIntyre →

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.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

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.