KEY BACKGROUND
The disposals from Cook and other insiders come after a rare slump for Apple on the stock market. The company slid 9% during September’s broader downturn, by far its worst month of 2023. Apple remains by far the most valuable company in the world with a $2.7 trillion market capitalization. That’s a $628 billion increase year-to-date, though it’s a $376 billion slip from the company’s all-time high valuation of $3.1 trillion achieved in July.
FORBES VALUATION
Cook is worth $1.9 billion, according to Forbes’ latest estimates. He owns 3,280,052 shares of Apple common stock, about .02% of all outstanding shares, a stake worth about $565 million.
TOPLINE
Apple CEO Tim Cook just executed his largest sale of his company’s stock in more than two years, according to regulatory filings late Tuesday, as the billionaire cashes in on his company’s waning $628 billion surge in valuation this year.
Apple CEO Tim Cook Sells Shares Valued at About $88 Million
KEY TAKEAWAYS
- Apple CEO Tim Cook sold 511,000 shares of company stock valued at about $88 million in his biggest sale of shares since 2021.
- After the sale, Cook still held 3.28 million shares of Apple.
- Apple shares have fallen about 12% since hitting an all-time high at the end of July.
Apple (AAPL) CEO Tim Cook made his biggest sale of company stock in more than two years as shares of the iPhone maker have lost ground since hitting an all-time high this summer.
In a regulatory filing, Cook reported he sold 511,000 shares at 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 about 4.6 million shares valued at more than $750 million.
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