Insider Selling

Apple Inc’s Insiders filed Form 144s worth Millions of dollars

The image's background depicts silver iMac, keyboard, and mouse and laptop, with the blog introduction mentioning the 2 insider filed Form 144 on top.

Apple Inc (AAPL: US) is one of the highest Market Cap companies in the stock market. With a current Market Capitalization of almost $2.52 trillion, Apple is ranked at first place among the S&P 500 index according to weight; despite the fact that its stock price declined by nearly 20.10% year-to-date.

Adding to this, two insiders - both frequent traders of AAPL stock - at the tech company filed Form 144 worth a total of almost $50.9 million. 

Form 144s in detail

Two insiders at Apple Inc filed Form 144s for millions worth of shares on October 03. Both intentions were for an estimated share price of $142.45 each

Katherine L. Adams - Senior Vice President and General Counsel - filed her Form 144 via the broker, Morgan Stanley Smith Barney LLC. She intended to sell 181,139 shares valued at approximately $25.8 million.

Deirdre O’Brien, who serves as Senior Vice President of Retail + People, filed her form through the broker, UBS Financial Services. Valued at almost $25.11 million, she intended to sell almost 176,299 shares. 

Both Adams and O’Brien are two frequent traders of company stock, and this is not the first time that they have filed intentions to sell in 2022 alone. They later sold the shares mentioned above in multiple transactions on the same day. 

Decreased Market Cap

On July 28, 2022, Apple disclosed its financial results for the fiscal Q3 of 2022 ending on June 25, 2022: Apple’s App Store revenues declined by almost 5% in the past month. Additionally, their game’s revenue tumbled by almost 14%. Year-on-year, Apple’s earnings from its sales of iPhone, Mac, iPad, and their other wearables are much lower. In contrast, however, their sales from services have reached a value of approximately $19.6 billion, marking a rise of almost 12.11%.

Later on September 30, 2022, an article revealed that multiple companies in the S&P 500 lost a large portion of their Market Cap in a short while. Apple Inc lost almost $119 billion in Market Cap in a single trading session while many analysts predict that the demand for Apple products will decline further in the coming future. 

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