Apple CEO John Ternus sells $8.46 million in stock
Apple CEO John Ternus executed a substantial sale of company shares on October 2, 2026, totaling 25,412 shares worth approximately $8.46 million. The transactions were conducted under a Rule 10b5-1 trading plan, with share prices ranging from $331.38 to $334.05. The sale occurred as Apple stock hovered near its 52-week high of $345.34, currently trading at $333.06, and despite the company's $4.87 trillion market capitalization, InvestingPro analysis suggests the stock is overvalued.
Ternus's sale followed the vesting of 99,878 restricted stock units (RSUs) on October 1, 2026, awarded in 2023 based on Apple's total shareholder return (TSR) performance. The TSR of 90.67% placed Apple in the 76.20th percentile, meeting the vesting criteria. Additionally, 49,054 shares worth $16.20 million were sold to cover tax obligations related to the RSU vesting at $330.32 per share. Post-transactions, Ternus holds 59,567 shares through his trust.
Recent developments include Morgan Stanley lowering its price target for Apple from $360 to $355 while maintaining an Overweight rating. The firm noted limited upside from recent earnings projections despite a strong product roadmap. Needham reiterated a Hold rating, citing competitive risks from Meta Platforms and other AI-focused companies. Meanwhile, Apple faces a consumer class action in the UK over its 2018 sales agreement with Amazon.