Newstead Sells Apple Stock as Company Prepares to Launch Foldable iPhone
Apple's Senior Vice President of General Counsel and Government Affairs, Jennifer Newstead, sold $456,176 worth of Apple stock on September 8, 2026. The sale was made under a Rule 10b5-1 trading plan that Newstead adopted in May. She still owns 34,352 shares after the transaction.
The price per share at which Newstead sold her stock was $317.23. Apple's stock has been performing well, with a 42% return over the past year and a market capitalization of $4.6 trillion. However, according to InvestingPro analysis, the stock appears overvalued.
Apple recently introduced its new foldable iPhone model, Duo, at an event called 'Surprise and Shine'. The device has a starting price of $1,999 and has generated varied reactions from analysts. Some firms have adjusted their price targets for Apple, with BofA Securities setting a target of $370 and Melius Research also maintaining a Buy rating with the same target.