Brian Kelly Is Bearish On Apple
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.
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