Worries about slowing economic growth in China, an increasingly important market for Apple, have recently hurt the Cupertino, California company’s shares, sending them down about 19 percent from a record high in April.
On Thursday, Apple was down 2.2 percent at $107.83 on a report that chip suppliers were concerned the iPhone maker would cut chip orders for the fourth quarter. This would indicate that Jobs’ Mob does not think it will sell as many tablets and pink iPhones as it thought it would.
Apple has been doing its best to spin news about iPhone sales. It even launched the iPhone in China on the same day as the US to make it look like sales had increased. Shareholders did not buy that trick, well other than those who also owned Apple shares and believe everything the company tells them anyway.
Borrowing in Apple shares grew 32 percent through most of September, and then abruptly dropped 31 percent this week, according to lending data from SunGard’s Astec Analytics.
Apple’s stock has fallen almost six percent in the last week.
Brad Lamensdorf, who manages the AdvisorShares Ranger Equity Bear thinks there could be a lot of hurt for Apple coming. He suspects investors are overestimating iPhone sales in future quarters.