Apple Incorporated (NASDAQ:AAPL) Short Interest Decreased By 9.03%


The stock of Apple Incorporated (NASDAQ:AAPL) registered a decrease of 9.03% in short interest. AAPL’s total short interest was 47.08M shares in September as published by FINRA. Its down 9.03% from 51.76M shares, reported previously. With 25.80 million shares average volume, it will take short sellers 2 days to cover their AAPL’s short positions. The short interest to Apple Incorporated’s float is 0.88%. About 22.09M shares traded hands. Apple Inc. (NASDAQ:AAPL) has risen 10.98% since February 8, 2016 and is uptrending. It has underperformed by 5.51% the S&P500.

Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market cap of $595.06 billion. The Company’s services and products include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings. It has a 12.62 P/E ratio. The Firm also delivers digital content and applications through the iTunes Store, App StoreSM, iBookstoreSM, and Mac App Store.

The institutional sentiment decreased to 0.89 in 2016 Q2. Its down 0.26, from 1.15 in 2016Q1. The ratio turned negative, as 116 funds sold all Apple Inc. shares owned while 900 reduced positions. 66 funds bought stakes while 835 increased positions. They now own 2.95 billion shares or 8.86% less from 3.23 billion shares in 2016Q1.

Diker Management Llc holds 23.72% of its portfolio in Apple Inc. for 637,273 shares. Independent Investors Inc owns 423,489 shares or 19.61% of their US portfolio. Moreover, Dock Street Asset Management Inc has 17.28% invested in the company for 204,441 shares. The Florida-based Lyons Wealth Management Llc. has invested 16.27% in the stock. Baker Boyer National Bank, a Washington-based fund reported 35,507 shares.

Out of 38 analysts covering Apple Inc. (NASDAQ:AAPL), 34 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 89% are positive. $200 is the highest target while $102 is the lowest. The $127.49 average target is 18.04% above today’s ($108.01) stock price. Apple Inc. has been the topic of 101 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Wells Fargo downgraded the stock on September 8 to “Market Perform” rating. Drexel Hamilton maintained it with “Buy” rating and $115 target price in a July 27 report. RBC Capital Markets maintained the shares of AAPL in a report on August 11 with “Outperform” rating. BMO Capital Markets maintained the firm’s rating on July 27. BMO Capital Markets has “Outperform” rating and $116 price target. Lastly, Citigroup maintained the stock with “Buy” rating in a July 27 report.

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