Wow this place died down - where's all the (supposed) short sellers?
Anyone with half a brain could tell that the stock was oversold. I bought in at $417 and came on here and said it was oversold. It's obvious based on fundamentals. You don't even have to look at the fundamentals though, as soon as every single analyst and person on the planet becomes a bear, it's time to buy. That's exactly what happened this week.
AAPL is a difficult stock to short because they pay a dividend. When you short a stock, you are responsible for paying the dividend which eats into any potential profit. Also, AAPL is still overly loved by Wall St. That said, a big pop could happen any day regardless of the actual fundamentals.
For starters you can't expect everyday to be short or a long day unless you day trade and right now a short would have lasted a few minutes just to squeeze out (50 cent not the rapper) Most likely short saw the V bottom coming and reversed their position, that's what shorts do,sell high buy or cover low. Shorts like to brag when they make money on the decline when longs are losing, that's the game.
And #2 the absolute low was $418 not $417 and that was AH
Mistyped. I meant 427. I didn't buy at the bottom.
I know the way short selling works however they were here the last couple days saying they were shortin and it was going into the 300's. typed on my iphone. ;)