Apple Continues to Underperform; the Market Is Resistant: Best of Kass

Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:

  • How Apple remains a large short position for Kass.
  • How the market is still resistant.

Click here for information on RealMoney, where you can see all the blogs, including Doug Kass'--and reader comments--in real time.


 
Apple Remains Among My Largest Short Positions
 
Originally published Nov. 23 at 11:50 a.m. EDT
 
Shares of Apple ( AAPL) are continuing to underperform, recently failing to penetrate $115 resistance, which is the upper end of my projected risk range.

While the company's current quarter will be fine -- aided by Samsung's problems and channel fill -- I don't believe the company will get away with bad execution, aggressive accounting, the absence of innovation and treating customers not so well, especially in the face of competitive products that are superior (Google Pixel Phone, Microsoft Surface Studio, etc.).

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