Apple CEO Tim Cook sold shares for $88 million

Apples vd Tim Cook sålde 511 000 aktier i företaget till ett värde av cirka 88 miljoner dollar i sin största försäljning av aktier sedan 2021. Efter försäljningen hade Cook fortfarande 3,28 miljoner aktier i Apple.

Apple CEO Tim Cook sold 511,000 shares of the company worth about $88 million in his largest stock sale since 2021. After the sale, Cook still held 3.28 million shares in Apple.

Apple shares have fallen about 12 percent since reaching a record high in late July 2023.

Apple (AAPL) CEO Tim Cook made his biggest sale of company stock in more than two years, as shares in the iPhone maker have lost ground since hitting a record high last summer.

In a regulatory filing, Cook reported that he sold 511,000 shares for between $171 and $173 each for a total of $87.8 million.1 He still holds 3.28 million shares. In August 2021, Cook sold approximately 4.6 million shares valued at more than $750 million.

Senior Executive Vice Presidents Deidre O’Brien and Katherine Adams joined Cook in divesting shares, each selling about $11.3 million worth.

Apple helped lead a rally in technology stocks this year, closing at a record $196.45 on July 31. That was an increase of more than 50 percent year-to-date. But since then, the shares have faded, losing about 12 percent from that peak.

KeyBanc’s Brandon Nispel, downgraded the stock. Nispel said valuations are too high and warned that US iPhone sales are likely to fall.

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