Apple Short Interest Jumps 13 Million Shares, Largest Rise on Nasdaq

By Douglas A. McIntyre Updated Jan 13, 3:07AM EST · Published Sep 27, 7:20AM EDT

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Apple Short Interest Jumps 13 Million Shares, Largest Rise on Nasdaq — © Wikimedia Commons

[cnxvideo id=”509258″ placement=”ros”]Among all stocks traded on the Nasdaq, Apple Inc. (NASDAQ: AAPL) had the largest increase in the number of shares sold short, up 13.1 billion shares to 60.1 billion in the latest period. Apparently some investors where not impressed by the new iPhone 7. The data were for the two weeks that ended on September 15.

The results of iPhone 7 early sales are nearly a month away, when Apple reports earnings on October 27. Apple no longer provides sales data for the first weekend or week, something it once did regularly.

Reports on sales have ranged from spectacular to mediocre. However, it is over the long haul, particularly the holidays, that matter. In some ways, that makes the quarterly report after the upcoming one more important. It covers December.

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Reviews of the iPhone 7 have been mostly positive, although most analysts say it is an upgrade to the iPhone 6 family and not a revolutionary product.

The other primary concern about Apple is China sales, which management says are absolutely essential to the company’s long-term future. These sales fell 33% to $8.8 billion. Competition is home-grown to some extent and includes Lenovo, Xiaomi, OnePlus and Huawei.

Apple still has a tall hill to climb with the iPhone 7.

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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.