Here’s How Much Apple CEO Tim Cook Has Made By Selling Thousands Of Shares – News18

(Reuters) – Apple Chief Executive Officer Tim Cook made $41.5 million after taxes in his greatest share sale in two years, a U.S. securities submitting confirmed.

Cook offered 511,000 shares, which have been price about $87.8 million earlier than accounting for taxes, in response to the submitting dated Tuesday. He made $355 million from a inventory sale in August 2021.

The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the submitting confirmed.

The firm’s shares have fallen 13% from their report excessive of $198.23 in July as traders fret a few slower-than-expected restoration in smartphone demand.

Apple launched its new iPhone 15 lineup final month, with out elevating costs, a transfer that some business watchers stated was in response to a world smartphone stoop.

Shares of the Cupertino, California-based firm have been down 0.6% in buying and selling earlier than the bell.

Analysts at KeyBanc downgraded the inventory to “sector-weight” from “overweight” on Wednesday on worries that gross sales development within the United States – Apple’s largest geographical phase – was prone to gradual once more within the fourth quarter.

The brokerage famous that fewer cellphone customers within the United States have been prone to improve their gadgets as they grappled with excessive inflation.

A report from analysis agency Canalys confirmed North American smartphone shipments have been anticipated to fall 12% in 2023.

(This story has been edited by News18 workers and is printed from a syndicated news company feed – Reuters)