Apple CEO Tim Cook makes $41 million from biggest stock sale in two years
© Reuters. FILE PHOTO: Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed.
The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed. Apple launched its new iPhone 15 lineup last month, without raising prices, a move that some industry watchers said was in response to a global smartphone slump.Analysts at KeyBanc downgraded the stock to"sector-weight" from"overweight" on Wednesday on worries that sales growth in the United States - Apple's largest geographical segment - was likely to slow again in the fourth quarter.
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