Tim Cook, the CEO of Apple, has sold nearly $88 million worth of Apple shares, his biggest sale of company stock in over two years.
Cook reported a sale of 511,000 shares in Apple, which, at roughly $170 each, is well over the $87 million mark. This is just a small percentage of his overall ownership, where he holds 3.28 million shares — Another $550 million!
Cook isn’t the only one to offload Apple Shares, Senior Executives Deirdre O’Brien (SVP of Retail and People) and Katherine Adams (SVP and General Counsel) both sold a combined $11.3 million shares.
It’s interesting to see large sales of Apple shares, considering the company’s shares have fallen around 12% since the end of July, when they hit an all-time high.
Cooking good tonight
Tim Cook will sleep well after bagging some cash from his Apple shares sale. In August 2021, he sold 4.6 million shares valued at $750 million, so he’s been eating well for a while now, it seems.
It’s an exciting time for Apple with the release of the iPhone 15 range of devices alongside the Apple Watch Series 9 and Ultra 2. We’ll see financial results for the new release shortly when Apple reports its earnings on November 2. The company is set for a huge 2024 with the launch of Apple Vision Pro, and we’re excited to see how the headset impacts the AR and VR space — Apple is counting on being a major player in the game.
Apple Vision Pro is set to release in Q1 of 2024, but developers are getting their hands on visionOS, the operating system, to ensure the headset launches with loads of apps. It’ll be interesting to see if the new product launch will propel Apple’s shares back to an all-time high like in July.
