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Gravity on Apple Inc. (AAPL) Has Put Die Hard Fans Like Jon Najarian in Doubt

Apple Inc. (NASDAQ:AAPL) has been feeling the pull of gravity on its stock price recently in light of an update mishap and BendGate Scandal, but is that enough to make investors wash their hands off the Apple Inc. (NASDAQ:AAPL) stock. Although CNBC‘s Jon Najarian had a hard time admitting it, but his recent short play on Apple shows that he thinks the company’s fundamentals are no longer what they used to be a few days ago.

AAPL Apple Store

Despite having 10 million sales on the opening weekend, Najarian believed that Apple Inc. (NASDAQ:AAPL) had already started to suffer from the BendGate scandal. He based his analysis on the inventory at the Apple Inc. (NASDAQ:AAPL) stores.

” […] I think a lot of people put off orders after that and now you know what I am hearing Judge? People are going in the stores and instead of being told there is a five week wait, they have them in the stores, so that is not a positive if you have got inventory when everybody was told for the preceding four days that you don’t have inventory […],” explained Najarian.

Najarian has always been an Apple Inc. (NASDAQ:AAPL) fan and still loves the company, but this is what differentiates a good investor from a bad one. They don’t let their emotions get in the way of profit opportunities.

Najarian doesn’t believe that Apple Inc. (NASDAQ:AAPL) will slide a whole lot more. This is apparent from his option positions. He is long in $100 put and short in $95 put. Hence, he expects the stock to remain between those levels. If Apple Inc. (NASDAQ:AAPL) crosses either of those boundaries he will lose money on his strategy.

Moreover, Najarian believed that Christmas will still be a great time for Apple Inc. (NASDAQ:AAPL) in terms of sales and by then the company’s mishaps would also have lost traction.

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