I just saw the CNBC highlight of Passport Capital's short on AAPL, IBM and all tech via the Qs.
When I saw it I was sickened. I was just disgusted by it. The market has effectively priced out all premium for Apple's stock, and the trends are still very much in Apple's favor. So anyone betting against the stock now is betting on a macro-effect that will cause the stock to go down. We all know what that 'macro-effect' is, the death of Steve Jobs.
I do not know if they still have the trade on, but if they do it seems like Passport Capital is betting on the spike downward when we find out Steve Jobs dies. Fucken Pathetic.
As for their IBM short. They are wrong, and will lose their money on that one. Unless they have the power to push a brokerage house to issue a bullshit downgrade during market weakness so they make money or can get out of the trade. (similar to what happened a few months ago)
If my assessment is correct, I can careless about this firm, as I am disgusted.
(Apple should issue a $20-30Billion dollar buy back. They do not have to start buying back now, but just to have the capability to support the stock to deter bullshit trades like these.)