{"id":69081,"date":"2023-10-05T13:07:36","date_gmt":"2023-10-05T17:07:36","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/apple-ceo-tim-cook-makes-41-million-from-biggest-stock-sale-in-two-years\/"},"modified":"2023-10-05T13:07:41","modified_gmt":"2023-10-05T17:07:41","slug":"apple-ceo-tim-cook-makes-41-million-from-biggest-stock-sale-in-two-years","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69081","title":{"rendered":"Apple CEO Tim Cook makes $41 million from biggest stock sale in two years"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Apple CEO Tim Cook attends the ‘Wonderlust’ event at the company’s headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS\/Loren Elliott\/File Photo<\/span>
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(Reuters) – Apple (NASDAQ:) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed.<\/p>\n

Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021. <\/p>\n

The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed.<\/p>\n

The company’s shares have fallen 13% from their record high of $198.23 in July as investors fret about a slower-than-expected recovery in smartphone demand.<\/p>\n

Apple launched its new iPhone 15 lineup last month, without raising prices, a move that some industry watchers said was in response to a global smartphone slump. <\/p>\n

Shares of the Cupertino, California-based company were down 0.6% in trading before the bell.<\/p>\n

Analysts at KeyBanc downgraded the stock to “sector-weight” from “overweight” on Wednesday on worries that sales growth in the United States – Apple’s largest geographical segment – was likely to slow again in the fourth quarter.<\/p>\n

The brokerage noted that fewer phone users in the United States were likely to upgrade their devices as they grappled with high inflation.<\/p>\n

A report from research firm Canalys showed North American smartphone shipments were expected to fall 12% in 2023. <\/p>\n<\/div>\n

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

\u00a9 Reuters. FILE PHOTO: Apple CEO Tim Cook attends the ‘Wonderlust’ event at the company’s headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS\/Loren Elliott\/File Photo (Reuters) – Apple (NASDAQ:) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold […]<\/p>\n","protected":false},"author":1,"featured_media":49804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-69081","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nApple CEO Tim Cook makes $41 million from biggest stock sale in two years | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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