Apple CEO John Ternus Sells 25,412 Shares for $8.46 Million
Apple Inc. (NASDAQ:AAPL) CEO John Ternus sold 25,412 shares of the company's stock on Friday, October 2nd. The shares were sold at an average price of $332.94, totaling $8,460,671.28. This transaction reduced Ternus' ownership by 29.90%, leaving him with 59,567 shares valued at $19,832,236.98. The sale was disclosed in an SEC filing and was intended to cover tax withholding obligations related to the vesting of equity awards.
On Monday, Apple's stock traded down $0.80, reaching $332.89. The trading volume was 34,340,915 shares, lower than its average volume of 49,072,559. Apple's stock has a 50-day moving average of $322.16 and a 200-day moving average of $300.35. The company's market cap stands at $4.86 trillion, with a P/E ratio of 38.18 and a P/E/G ratio of 2.66.
Apple reported strong fiscal third-quarter results on July 30th, with earnings per share of $2.02, beating analysts' estimates of $1.89. Revenue for the quarter was $109.42 billion, up 16.4% year-over-year. Analysts expect Apple to post 8.75 EPS for the current fiscal year. The company also announced a quarterly dividend of $0.27, paid on August 13th, with an annualized yield of 0.3%.
Recent news highlights include positive sentiment around Apple's planned Siri overhaul and expectations of 6 million units sold for the premium iPhone Duo. However, there are concerns about Apple's ability to monetize AI and a forecast suggesting Microsoft could surpass Apple's market value by 2027. Analysts have mixed ratings on Apple, with a consensus price target of $340.02.