We didn't sell down on the earnings announcement but at the very tail of afterhours. This is the signature of tape-painting by hedgies short to the tune of 8-10 days to cover. Our shorts have been getting skinned in this market, are desperately afraid of a squeeze here, and are in immediate danger of a squeeze on the buyback news.
A full day's trading will begin to tell the story. Our short friends desperately want you to jump to a conclusion based on their few thousand shares afterhours. There is little reason to do so. The report isn't bad, and insiders keep on buying. Moreover, it looks as if we are at the beginning of rotation into tech.