Apple CEO John Ternus sells $8.46 million in shares
Apple CEO John Ternus sold 25,412 shares of Apple Inc. common stock on October 2, 2026, totaling approximately $8.46 million. The shares were sold at weighted average prices ranging from $331.38 to $334.05, all under a Rule 10b5-1 trading plan adopted in May 2026. The sale occurred as Apple's stock hovered near its 52-week high of $345.34, currently trading at $333.06. Despite a market capitalization of $4.87 trillion, InvestingPro analysis suggests the stock is overvalued.
The transactions were broken into multiple sales: 3,564 shares at $331.38, 5,348 shares at $332.26, 12,746 shares at $333.34, and 3,754 shares at $334.05. Before these sales, Ternus acquired 99,878 shares on October 1, 2026, through the vesting of restricted stock units (RSUs) granted in 2023. These RSUs vested after Apple's total shareholder return (TSR) of 90.67% placed it in the 76.20th percentile.
Additionally, Apple disposed of 49,054 shares worth $16.20 million to meet tax withholding requirements related to the RSU vesting. Following these transactions, Ternus retains 59,567 shares through his trust. In other news, Morgan Stanley lowered its price target for Apple from $360 to $355 but maintained an Overweight rating, citing a robust product roadmap but limited earnings upside. Needham kept a Hold rating, pointing to competitive risks from Meta Platforms and AI-focused companies.
Bank of America also recently downgraded Industrials stocks while upgrading Healthcare. Meanwhile, the UK’s Competition Appeal Tribunal allowed a consumer class action against Apple regarding its 2018 sales agreement on Amazon’s UK marketplace.