AAPL short interest fall by -5.96%, reflecting positive sentiment

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Apple Inc. shares valued at $708,980 were sold by KONDO CHRIS on May 08. At $173.26 per share, KONDO CHRIS sold 4,092 shares. The insider’s holdings dropped to 33,946 shares worth approximately $6.31 million following the completion of this transaction.

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Also, Maestri Luca sold 69,996 shares, netting a total of over 11,566,839 in proceeds. Following the sale of shares at $165.25 each, the insider now holds 107,661 shares.

Before that, Maestri Luca had sold 200 shares from its account. In a trade valued at $32,984, the Senior Vice President, CFO traded Apple Inc. shares for $164.92 each. Upon closing the transaction, the insider’s holdings decreased to 200 shares, worth approximately $33.05 million.

As published in a research note from UBS on June 13, 2023, Apple Inc. [AAPL] has been rated down from a Buy to a Neutral and the price target has been revised to $190 from $180. This represents a 2.1% premium over Thursday’s closing price.

Analyzing AAPL Stock Performance

On Thursday, Apple Inc. [NASDAQ: AAPL] rose 1.12% to $186.01. The stock’s lowest price that day was $183.78, but it reached a high of $186.52 in the same session. During the last five days, there has been a surge of approximately 3.01%. Over the course of the year, Apple Inc. shares have jumped approximately 43.16%. Shares of the company reached a 52-week high of $186.52 on 06/15/23 and a 52-week low of $124.17 on 01/03/23. A 50-day SMA is recorded $171.96, while a 200-day SMA reached $153.05. Nevertheless, trading volume fell to 65.33 million shares from 57.46 million shares the previous day.

Support And Resistance Levels for Apple Inc. (AAPL)

According to the 24-hour chart, there is a support level at 184.35, which, if violated, would cause prices to drop to 182.70. In the upper region, resistance lies at 187.09. The next price resistance is at 188.18. RSI (Relative Strength Index) is 74.11 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.98, which suggests the price will increase in the coming days. Percent R is at 3.80%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Apple Inc. subject to short interest?

Stocks of Apple Inc. saw a sharp steep in short interest on May 30, 2023 dropping by -7.01 million shares to 117.65 million. Data from Yahoo Finance shows that the short interest on Apr 27, 2023 was 124.66 million shares. A decline of -5.96% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.03 of the overall float, the days-to-cover ratio (short ratio) decline to 2.03.

Which companies own the most shares of Apple Inc. (AAPL)?

According to The Vanguard Group, Inc. filings, the company currently owns 1,245,490,934 shares, which is about 7.87% of the total AAPL shares outstanding. The investor’s shares have appreciated by 30,803,738 from its previous 13-F filing of 1214687196.0 shares. With the completion of the buy transaction, Berkshire Hathaway, Inc.’s stake is now worth $155,352,285,618. BlackRock Fund Advisors reduced a -0.99% interest valued at $113.03 billion while SSgA Funds Management, Inc. sold a -10,575,631 stake. A total of 2,421,295 shares of Apple Inc. were sold by Geode Capital Management LLC during the quarter, and -9,087,235 were sold by Fidelity Management & Research Co. In its current portfolio, T. Rowe Price Associates, Inc. holds 234,017,381 shares valued at $39.71 billion.

In terms of Apple Inc. share price expectations, FactSet research, analysts set an average price target of $187.19 in the next 12 months, up nearly 3.02% from the previous closing price of $183.95. Analysts anticipate Apple Inc. stock to reach $220.00 by 2023, with the lowest price target being $140.00. In spite of this, 42 analysts ranked Apple Inc. stock as an Overweight at the end of 2023.