Over the past year, Apple Inc. (NASDAQ:AAPL)‘s short interest — the number of shares sold by short sellers — has increased by nearly twofold. Reported by NASDAQ twice a month, the exchange’s latest data release indicates that Apple’s short interest declined slightly in the first two weeks of December on a smaller time frame.
In the first two-week period of December, with a settlement date on the 14th, short interest in Apple came in at 19.1 million shares. This figure represents close to a 7% decline from Apple’s short interest on November 30th, and an 11% drop from one month earlier.
As mentioned above, Apple Inc. (NASDAQ:AAPL)’s short interest, which was just 10.5 million shares at the same time last year, has increased significantly since last holiday season. Likewise, short sellers’ volume has been booming as well, hitting a seven-month high in the latest filing period.
While it’s easy to see that shares of the tech giant trade at ridiculously attractive valuation metrics — a PEG of 0.59 and a forward P/E below 9.0 — Apple Inc. (NASDAQ:AAPL) obviously also has its fair number of bears.
After taking this latest short interest data into consideration, the best question to ask is: should investors take it seriously?