Apple CEO Sells $8.46 Million in Stock Near 52-Week High
Apple CEO John Ternus sold 25,412 shares of Apple Inc. stock on October 2, 2026, totaling approximately $8.46 million. The shares were sold at prices ranging from $331.38 to $334.05, all part of a prearranged trading plan under Rule 10b5-1 adopted in May 2026. This sale occurred as Apple stock hovered near its 52-week high of $345.34, currently trading at $333.06, giving the company a market capitalization of $4.87 trillion. However, InvestingPro analysis suggests the stock is overvalued.
The transactions were divided into four separate sales, with the largest involving 12,746 shares at a weighted average price of $333.34. Prior to these sales, Ternus acquired 99,878 shares through the vesting of restricted stock units (RSUs) on October 1, 2026, following a three-year performance period where Apple's total shareholder return ranked in the 76.20th percentile.
Additionally, Apple disposed of 49,054 shares to meet tax withholding requirements related to the RSU vesting. Following these transactions, Ternus now holds 59,567 shares of Apple stock through his trust. In other recent developments, Morgan Stanley adjusted its price target for Apple from $360 to $355, while maintaining an Overweight rating, citing a robust product roadmap but limited earnings upside. Needham reiterated a Hold rating, pointing to competitive risks from Meta Platforms and other AI-focused companies.
The UK’s Competition Appeal Tribunal also permitted a consumer class action against Apple regarding its 2018 sales agreement on Amazon’s UK marketplace. Meanwhile, Bank of America shifted its sector positioning by downgrading Industrials stocks and upgrading Healthcare.