Apple CEO Tim Cook Just Sold $88 Million Worth of Stock. Has the Stock Peaked?
According to a filing from Oct. 1, (NASDAQ: AAPL) CEO Tim Cook exercised options on 511,000 shares of Apple stock which were valued at more than $88 million. Cook's profit on the options sale totaled $41.5 million. It was the largest sale of Apple stock the executive has made in two years.
With Apple stock trading down more than 8% since August, is this a sign that even management believes the stock has already peaked? Is now the time for Apple investors to consider cashing in their shares of the business as well?
A CEO selling shares of a company isn't necessarily a sign that he or she is pessimistic about its future. There are many possible reasons for an executive to sell shares, which can range from simply needing the liquidity for personal reasons to doing it for tax-planning purposes.
Source Fool.com
Apple Inc. Stock
Currently there is a rather positive sentiment for Apple Inc. with 108 Buy predictions and 9 Sell predictions.
With a target price of 210 € there is a slightly positive potential of 4.22% for Apple Inc. compared to the current price of 201.5 €.
