Apple Execs Cash Out $92M in Shares Amid Strong Q3 Results

Since its inception in 1977 by founders Steve Jobs and Steve Wozniak, Apple Inc (AAPL:US) has consistently driven innovation in the tech world. From the iconic iPhone to services that reshape industries, Apple’s focus on cutting-edge technology has changed how we live, work, and communicate. Today, it stands as a global leader in consumer electronics and digital experiences with a market cap of nearly $3.45 trillion.

Intent to Sell Apple Shares

In a notable instance on October 2, 2024, four key insiders at Apple Inc. disclosed their intent to cash out on AAPL stock by filling Form 144 on the same day, accumulating a staggering $92.03 million in stock value. 

• CEO Timothy Donald filed a form via Fidelity Brokerage Services LLC with plans to sell 223,986 shares for a total worth around $50.04 million.

• COO Jeffrey Williams filed his form for 59,730 shares for a total worth of $13.55 million. His form was filed with UBS Financial Services Inc. as the broker.

• General Counsel, Secretary Katherine L. Adams filed his form through Morgan Stanley Smith Barney LLC with the plan to sell 61,019 shares for a total worth around $13.84 million.

• SVP, Retail Deirdre O'Brien filed his form via UBS Financial Services, Inc. with the plan to sell 61,019 shares for a total worth around $13.84 million.

Apple's Strong Q3 2024 Financial Results

Apple reported solid fiscal Q3 2024 results, posting a 5% year-over-year revenue increase to $85.8 billion. Earnings per share rose 11%, reaching $1.40. Additionally, the company’s strong cash flow, amounting to nearly $29 billion, allowed Apple to return over $32 billion to shareholders.

In conclusion, while insider stock sales may raise concerns, the financial strength highlights the company’s resilience and ongoing growth.