{"id":24300,"date":"2023-10-04T14:50:39","date_gmt":"2023-10-04T14:50:39","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/apple-ceo-tim-cook-cashes-in-41-million-from-latest-stock-sale\/"},"modified":"2023-10-04T14:50:40","modified_gmt":"2023-10-04T14:50:40","slug":"apple-ceo-tim-cook-cashes-in-41-million-from-latest-stock-sale","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=24300","title":{"rendered":"Apple CEO Tim Cook cashes in $41 million from latest stock sale"},"content":{"rendered":"
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\u00a9 Reuters. Apple (AAPL) CEO Tim Cook cashes in $41 million from latest stock sale<\/span>
\n<\/i>\n<\/div>\n

In a Form 4 filing with the SEC late Tuesday, Apple (NASDAQ:) CEO Tim Cook disclosed selling 511,000 common shares of the iPhone giant worth about $88 million. Of the shares, 270,431 were used for taxes, leaving Cook with net proceeds of approximately $41 million.<\/p>\n

It was Cook’s largest stock sale in more than two years and comes with shares well off recent highs but still up 33% on the year.<\/p>\n

Cook still owns 3,280,053 Apple shares following the transaction, worth about $563 million based on current prices.<\/p>\n

In 2021, Cook sold $750 million in Apple stock.<\/p>\n

The latest stock sale disclosure comes on the same day that Apple received a rare Wall Street downgrade. KeyBanc downgraded the stock to Sector Weight from Overweight. The analysts cited valuation, with shares trading near-peak multiples despite a mature growth profile. In addition, the analysts said the Americas region will likely see soft growth and the international segment is seeing challenging trends.<\/p>\n

Global smartphone demand is expected to cool this year as customers contend with sticky inflation and elevated interest, according to research group Canalys. In a September report, Canalys estimated that shipments of these devices in North America would slide by 12% in 2023.<\/p>\n

Shares of Apple hovered around the flatline in early U.S. trading on Wednesday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Apple (AAPL) CEO Tim Cook cashes in $41 million from latest stock sale In a Form 4 filing with the SEC late Tuesday, Apple (NASDAQ:) CEO Tim Cook disclosed selling 511,000 common shares of the iPhone giant worth about $88 million. Of the shares, 270,431 were used for taxes, leaving Cook with net<\/p>\n","protected":false},"author":1,"featured_media":8295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-24300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nApple CEO Tim Cook cashes in $41 million from latest stock sale | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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