AAPL had a long overdue bounce on Wednesday, trading up over 6% on heavy volume (83.8 million shares traded versus normal daily average volume of 35.2 million shares.) AAPL has been slowly drifting down after hitting a 52 week high of $86.40 several months ago. People have speculated as to the reason for the decrease; lack of news has been cited, and more interesting theories have been floated, such as Jim Cramer’s theory about a “concerted short attack” on the stock. AAPL currently has a market cap of $52 billion dollars and is about 24 points off of its 52 week high of $86.40.
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