Market Overview

Brian Kelly Is Bearish On Apple

Related AAPL
Top 4 NASDAQ Stocks In The Electronic Equipment Industry With The Highest EPS
GT Advanced Technologies Issues Response to Apple's Statement Following Release of October 8th Declaration
BlackBerry CEO Talks 'Classic' Debut, Strategy (Fox Business)

Brian Kelly said on CNBC Fast Money's that all the good news are already priced in Apple (NASDAQ: AAPL) and there is nothing else left.

Once the iPhone 6 comes out there is nothing else for Apple, added Kelly. In his opinion, there is not much upside for the stock and that's why he wants to take a short position.

He explained that this game is about risk management, and with this trade he has a great risk/reward set up. Kelly sold the stock at around $95 and his stop loss is at $101.There was a similar product cycle in 2012 and a very similar hype cycle and Apple traded close to $100 before collapsing to $55. Kelly believes that the same thing is going to happen again.

If history repeats, he would be risking $6 to earn $40.

Posted-In: Brian Kelly CNBC Fast MoneyCNBC Short Ideas Fast Money Media Trading Ideas

 

Related Articles (AAPL)

Around the Web, We're Loving...

Get Benzinga's Newsletters