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Apple executives sell $200 million in stock

post #1 of 77
Thread Starter 
Members of Apple's top brass sold a million shares of company stock Thursday, totaling $200 million in value and helping to send the stock price down $4.57.

According to Philip Elmer-DeWitt at Fortune Brainstorm-Tech, four Apple executives sold 850,000 shares of stock worth of fully vested stock Thursday morning, when Apple opened the day at an all-time high. Chief Operating Officer Tim Cook sold the largest amount -- 300,000 shares -- earning him a total of $68.8 million. $32 million of that was set aside for taxes.

Two weeks ago, Cook was awarded nearly $22 million in stock- and cash-based compensation. He assumed the role of interim CEO from January to June of 2009 when Apple co-founder Steve Jobs was recovering from liver transplant surgery.

Peter Oppenheimer, Apple's chief financial officer, sold 200,000 shares which cleared at $45.98 million. In addition, senior vice presidents Phil Schiller, worldwide product marketing, and Ron Johnson, retail operations, combined for 350,000 shares at $80 million.

All four executives cleared a combined $195.2 million before taxes on the stock sale. They were issued the restricted shares on Dec. 14, 2005, and the shares became fully vested on Wednesday.

Another three senior staffers -- Bertrand Serlet, Scott Forstall and Robert Mansfield -- also sold some shares to cover their tax burden. Together, the three of them were granted 250,000 restricted shares in 2005.

A strong market performance since the unveiling of the iPad in January has propelled AAPL stock to new heights. Apple temporarily surpassed the market cap of U.S. retail giant Walmart weeks ago, and the two companies have remained neck-and-neck for weeks. Based on market cap, Apple is the fourth-largest U.S. company, ahead of Berkshire Hathaway and behind only Exxon Mobil, Microsoft and Walmart.
post #2 of 77
Yeh, I just read this somewhere else.
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無心 The idea of wilderness needs no defense, it only needs defenders., Wilderness is not a luxury but a necessity of the human spirit__Edward Abbey
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post #3 of 77
Stock is up over $4.50 today by the way.
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MacBook Pro 17" Glossy 2.93GHz, iPad 64GB, iPhone 4 16GB, and a lot of other assorted goodies.

If you're a troll and you have been slain. Don't be a Zombie.
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post #4 of 77
Quote:
Originally Posted by AppleInsider View Post

Another three senior staffers -- Serlet Bertrand, Scott Forstall and Robert Mansfield -- also sold some shares to cover their tax burden. Together, the three of them were granted 250,000 restricted shares in 2005.

It's actually Bertrand Serlet.

EDIT:

Thanks for the correction, AI.
post #5 of 77
Remember, executives can't just sell stock as they want. They have to file papers a long time before the intended sale date. That date just happened to be the same day as the (then) all-time high.
So any trolls that say something to the effect of "Executives are bailing! APPLE IS DOOOOOOOOMED!!!!!" are wrong.
post #6 of 77
Quote:
Originally Posted by studiomusic View Post

Remember, executives can't just sell stock as they want. They have to file papers a long time before the intended sale date. That date just happened to be the same day as the (then) all-time high.
So any trolls that say something to the effect of "Executives are bailing! APPLE IS DOOOOOOOOMED!!!!!" are wrong.

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?
post #7 of 77
Quote:
Originally Posted by studiomusic View Post

Remember, executives can't just sell stock as they want. They have to file papers a long time before the intended sale date. That date just happened to be the same day as the (then) all-time high...


Your thinking short term, these executives knew well in advance the stock would be high before a release of a new product.

The very fact that they are selling goes to show they don't believe the stock is going to keep go up, rather it's going to trend down for some reason or several reasons. Likely they believe the iPad is not going to be such a success as they lead people to believe.

After all there is a huge cost barrier to the iPad and there's a recession going on. The iPad is not a standalone device, it requires a investment in a computer to make it work, so that limits it's sales to those who already have a computer and need another device. It's already been shown it's going to take sales away from the iPod Touch.

Also it's just a matter of time before publishers realize they can just sell their content directly to the computer users and make all the profit and undercut Apple's 30% iBookStore commission.

The consumer will decide they can get the same content cheaper on their computers and not have to buy a $500 or more device to read e-books.

Also the fact that Apple just added 30,000 free e-books to the iBookStore gives customers a lot of reading material without having to buy anything. I'm sure publishers really loved that move, they want the whole iBookStore's eyeballs to themselves and customers buying instead of freeloading.

Once people find out about the hundreds of thousands of free e-books available (look for my post in Temporary Insanity Forum for links) and realize it's going to be a lot of work transferring them to the iPad, they will decide to just use their computer in the first place, has more storage too.
post #8 of 77
Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

We know you're here just to troll, but this is just WEAK.
post #9 of 77
AAPL has had all-time highs four days in a row. Just wait until it becomes obvious how hot iPads are selling. And then the new iPhone comes out this summer. Steve jobs said it's an "A+ update". The next iPhone will gather even more converts, not to mention all the current users who will upgrade.

I also expect to see more cool ways to have your iPhone interact with your iPad in the next iPhone OS releases. It will be cool to see what they come up with.

To sum it up, this stock is making me smile!
post #10 of 77
These shares were sold off the day after they were fully vested. These were granted back in December 2005.

This is normal activity and some of the proceeds from these sales are usually used to pay taxes.
post #11 of 77
Quote:
Originally Posted by Quadra 610 View Post

We know you're here just to troll, but this is just WEAK.

Just think. If he had been on of the lucky few who received a portion of those RSUs, he could then officially move out of his Mom's moldy basement!
Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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Pity the agnostic dyslectic. They spend all their time contemplating the existence of dog.
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post #12 of 77
Quote:
Originally Posted by SpotOn View Post

Your thinking short term, these executives knew well in advance the stock would be high before a release of a new product.

The very fact that they are selling goes to show they don't believe the stock is going to keep go up, rather it's going to trend down for some reason or several reasons. Likely they believe the iPad is not going to be such a success as they lead people to believe.

After all there is a huge cost barrier to the iPad and there's a recession going on. The iPad is not a standalone device, it requires a investment in a computer to make it work, so that limits it's sales to those who already have a computer and need another device. It's already been shown it's going to take sales away from the iPod Touch.

Also it's just a matter of time before publishers realize they can just sell their content directly to the computer users and make all the profit and undercut Apple's 30% iBookStore commission.

The consumer will decide they can get the same content cheaper on their computers and not have to buy a $500 or more device to read e-books.

Also the fact that Apple just added 30,000 free e-books to the iBookStore gives customers a lot of reading material without having to buy anything. I'm sure publishers really loved that move, they want the whole iBookStore's eyeballs to themselves and customers buying instead of freeloading.

Once people find out about the hundreds of thousands of free e-books available (look for my post in Temporary Insanity Forum for links) and realize it's going to be a lot of work transferring them to the iPad, they will decide to just use their computer in the first place, has more storage too.

So are you putting your money where your mouth is and shorting Apple stock?
post #13 of 77
Quote:
Originally Posted by Quadra 610 View Post

We know you're here just to troll, but this is just WEAK.

So now you're able to predict the future in addition to cheerlead?
post #14 of 77
Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

Certainly not a coincidence - of course they knew the launch date of the iPad and EVERYONE knew that the hype surround the iPad release date would be *likely* to have a positive impact on the stock price - so what would YOU do? you are sitting on stock options that are worth millions - but essentially have no value at all really until you SELL them - history tells us that stock prices spike around the time folks are expecting something miraculous to happen with the company's products - and then perhaps dip again when enough people get their hands on said product and it turns out to fall short of the wet dream you had with Bo Derek's poster over your bed when you where 12 and the flame wars begin between those who blast the company for a product that coulda, shoulda, woulda be better if only if.... vs those who gloss over any shortcomings and make excuses based on personal opinion and heresay and say things like just wait till the next update THAT one will be freakin' AWESOME. While the majority of us just sigh and think - give it a rest you guys - and when you get a chance join the rest of us in the real world for awhile would ya please.

Something that I think would be big news would be an executive timing their sale of ALL theirs shares on the day the stock reaches its LOWEST point - then I think I might be concerned that person knows something that the rest of us are about to find out the hard way.

So perhaps it is interesting when so-and-so sells a million shares - and it happens to coincide with the 52 week high (or whatever combination of factors) but perhaps more interesting would be a chart showing how many shares are held by each and every executive - when they are fully vested or matured or sellable or whatever - so you could see how many he still has. To look at it another way if you herd a hollywood celebrity is selling off 20 cars - that might seem significant - but if you then find out it is Jay Leno and he will still have 200 cars left in his collection after the sale (just making numbers here) does that change the impact of the story? (actually Jay selling ANY of his cars might be newsworthy) the point is that any single data point without any context or historical trending etc isn't very useful information.
post #15 of 77
I've heard people mention they add trolls to their ignore list. How do I do that? The trolls on here are annoying. Reading their comments is a waste of my time. I can't even imagine wasting my time to reply to them.
post #16 of 77
Quote:
Originally Posted by TECHSTUD View Post

So now you can predict the future too?

When it comes to Apple, it's not difficult. The iPad is an OBVIOUS win.

By the way, target was raised to $300 today. Which seems a bit too conservative, actually.

http://www.forbes.com/feeds/ap/2010/...l_7467448.html
post #17 of 77
Quote:
Originally Posted by Vatdoro View Post

I've heard people mention they add trolls to their ignore list. How do I do that? The trolls on here are annoying. Reading their comments is a waste of my time. I can't even imagine wasting my time to reply to them.

Don't bother. Their name still shows up when they post, just the contents of their post are hidden, with an option on the side to reveal them. The only real way for an Ignore List to to work is to hide their posts completely.
post #18 of 77
Phillip is really something else. He changed the headline because earlier on he had been using the terms "dump" and "insider trading" - I'm sure until someone on the editorial staff happened to glance at his entry and told him to correct it. Of course he missed the whole story.

Each of the officers acquired an EQUAL number of new shares on Wednesday via restricted stock options as follows: COO Tim Cook - 300K, CFO Peter Oppenheimer - 200K, SVP Retail Ron Johnson - 200K and SVP Phil Shiller - 150K. So the net change in stock ownership for each is NIL, since they acquired an equal number of shares the day before selling (however they netted a tidy sum of dollars in the process - the purpose of stock options) . And of course it wouldn't be a PED article if it even bothered to mention the requirements under SEC Form 4 Rule 10b5-1 trading plan. Oh wait I think he just edited the article to bury a mention of that in the text. Nice. And a brief check this morning shows that the Apple stock price has rebounded nicely to 231.48USD share price, actually higher than when the officers exercised their options yesterday. As an options holder myself (different company) - not only are there disclosure and action rules to follow, the options often carry time limits as well. Silly ol' Phil. Perhaps a refresher course in financial jounralism 101 would fill-in some of the writing potholes he puts out there as an Apple "skeptic".
post #19 of 77
Quote:
Originally Posted by masternav View Post

Phillip is really something else. He changed the headline because earlier on he had been using the terms "dump" and "insider trading" - I'm sure until someone on the editorial staff happened to glance at his entry and told him to correct it. Of course he missed the whole story.

Each of the officers acquired an EQUAL number of new shares on Wednesday via restricted stock options as follows: COO Tim Cook - 300K, CFO Peter Oppenheimer - 200K, SVP Retail Ron Johnson - 200K and SVP Phil Shiller - 150K. So the net change in stock ownership for each is NIL, since they acquired an equal number of shares the day before selling (however they netted a tidy sum of dollars in the process - the purpose of stock options) . And of course it wouldn't be a PED article if it even bothered to mention the requirements under SEC Form 4 Rule 10b5-1 trading plan. Oh wait I think he just edited the article to bury a mention of that in the text. Nice. And a brief check this morning shows that the Apple stock price has rebounded nicely to 231.48USD share price, actually higher than when the officers exercised their options yesterday. As an options holder myself (different company) - not only are there disclosure and action rules to follow, the options often carry time limits as well. Silly ol' Phil. Perhaps a refresher course in financial jounralism 101 would fill-in some of the writing potholes he puts out there as an Apple "skeptic".

It's all about the hits. Excellent post, by the way.
post #20 of 77
Quote:
Originally Posted by Vatdoro View Post

I've heard people mention they add trolls to their ignore list. How do I do that? The trolls on here are annoying. Reading their comments is a waste of my time. I can't even imagine wasting my time to reply to them.

Go to the User CP (control panel) at the top of the thread window, click it open and down the left side find edit ignore list. Put the tag of the contributor you wish to ignore in there and voila! they are collapsed automatically. To ensure the lowest possible visibility, it's always nice to respond to a troll when you feel compelled to do so without quoting them in your response.
post #21 of 77
Quote:
Originally Posted by lilgto64 View Post

Certainly not a coincidence - of course they knew the launch date of the iPad and EVERYONE knew that the hype surround the iPad release date would be *likely* to have a positive impact on the stock price - so what would YOU do? you are sitting on stock options that are worth millions - but essentially have no value at all really until you SELL them - history tells us that stock prices spike around the time folks are expecting something miraculous to happen with the company's products - and then perhaps dip again when enough people get their hands on said product and it turns out to fall short of the wet dream you had with Bo Derek's poster over your bed when you where 12 and the flame wars begin between those who blast the company for a product that coulda, shoulda, woulda be better if only if.... vs those who gloss over any shortcomings and make excuses based on personal opinion and heresay and say things like just wait till the next update THAT one will be freakin' AWESOME. While the majority of us just sigh and think - give it a rest you guys - and when you get a chance join the rest of us in the real world for awhile would ya please.

Something that I think would be big news would be an executive timing their sale of ALL theirs shares on the day the stock reaches its LOWEST point - then I think I might be concerned that person knows something that the rest of us are about to find out the hard way.

So perhaps it is interesting when so-and-so sells a million shares - and it happens to coincide with the 52 week high (or whatever combination of factors) but perhaps more interesting would be a chart showing how many shares are held by each and every executive - when they are fully vested or matured or sellable or whatever - so you could see how many he still has. To look at it another way if you herd a hollywood celebrity is selling off 20 cars - that might seem significant - but if you then find out it is Jay Leno and he will still have 200 cars left in his collection after the sale (just making numbers here) does that change the impact of the story? (actually Jay selling ANY of his cars might be newsworthy) the point is that any single data point without any context or historical trending etc isn't very useful information.

Exactly.
post #22 of 77
Further, executives who get a lot of their compensation from stock options end up with a lot of stock in the company. They regularly sell some of their holdings to avoid being heavily over-invested.
Please don't be insane.
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Please don't be insane.
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post #23 of 77
Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

it very well could be a coincidence.

But the timing is a bit odd isn't it?
post #24 of 77
Quote:
Originally Posted by Quadra 610 View Post

It's all about the hits. Excellent post, by the way.

Thanks. It really makes me laugh when bloggers like PED toss-off stuff like that. The article was much worse early on. He fixed bits of it, but he's gotten a bit defensive in the the comments as he's done so.

Anyone who has had to accept stock options as a part of a compensation package understands the rules and guidelines around them. They are used to tie personal gain to company success (usually for executives and managers) - so if the company does well, the stock goes up - the value of the options goes up too. But you can't exercise them until the action date, and frequently you only have so much time in which to so do. Also corporate officers are required to do a disclosure under Rule 10b5-1 which is an SEC-accepted stock action plan for executives - to prevent the misuse of insider information when selling stock or exercising stock options.
post #25 of 77
Quote:
Originally Posted by TECHSTUD View Post

Exactly.

We see this:

Quote:
Originally Posted by studiomusic View Post

Remember, executives can't just sell stock as they want. They have to file papers a long time before the intended sale date. That date just happened to be the same day as the (then) all-time high.
So any trolls that say something to the effect of "Executives are bailing! APPLE IS DOOOOOOOOMED!!!!!" are wrong.

Then in reply you post this:

Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

(Obviously implying that the sell-off was Apple execs bailing because they have little faith in their product.)

Then, after this particularly lucid post which completely destroys the "Apple execs are bailing" nonsense, here:

Quote:
Originally Posted by lilgto64 View Post

Certainly not a coincidence - of course they knew the launch date of the iPad and EVERYONE knew that the hype surround the iPad release date would be *likely* to have a positive impact on the stock price - so what would YOU do? you are sitting on stock options that are worth millions - but essentially have no value at all really until you SELL them - history tells us that stock prices spike around the time folks are expecting something miraculous to happen with the company's products - and then perhaps dip again when enough people get their hands on said product and it turns out to fall short of the wet dream you had with Bo Derek's poster over your bed when you where 12 and the flame wars begin between those who blast the company for a product that coulda, shoulda, woulda be better if only if.... vs those who gloss over any shortcomings and make excuses based on personal opinion and heresay and say things like just wait till the next update THAT one will be freakin' AWESOME. While the majority of us just sigh and think - give it a rest you guys - and when you get a chance join the rest of us in the real world for awhile would ya please.

Something that I think would be big news would be an executive timing their sale of ALL theirs shares on the day the stock reaches its LOWEST point - then I think I might be concerned that person knows something that the rest of us are about to find out the hard way.

So perhaps it is interesting when so-and-so sells a million shares - and it happens to coincide with the 52 week high (or whatever combination of factors) but perhaps more interesting would be a chart showing how many shares are held by each and every executive - when they are fully vested or matured or sellable or whatever - so you could see how many he still has. To look at it another way if you herd a hollywood celebrity is selling off 20 cars - that might seem significant - but if you then find out it is Jay Leno and he will still have 200 cars left in his collection after the sale (just making numbers here) does that change the impact of the story? (actually Jay selling ANY of his cars might be newsworthy) the point is that any single data point without any context or historical trending etc isn't very useful information.



You post this:

Quote:
Originally Posted by TECHSTUD View Post

Exactly.

ROFL only you in your infinite trolling are capable of such flip-flopping. If you’re wrong, just admit it and move on. Man up, already.
post #26 of 77
Quote:
Originally Posted by SpotOn View Post

Your thinking short term, these executives knew well in advance the stock would be high before a release of a new product.

The very fact that they are selling goes to show they don't believe the stock is going to keep go up, rather it's going to trend down for some reason or several reasons. Likely they believe the iPad is not going to be such a success as they lead people to believe.

After all there is a huge cost barrier to the iPad and there's a recession going on. The iPad is not a standalone device, it requires a investment in a computer to make it work, so that limits it's sales to those who already have a computer and need another device. It's already been shown it's going to take sales away from the iPod Touch.

Also it's just a matter of time before publishers realize they can just sell their content directly to the computer users and make all the profit and undercut Apple's 30% iBookStore commission.

The consumer will decide they can get the same content cheaper on their computers and not have to buy a $500 or more device to read e-books.

Also the fact that Apple just added 30,000 free e-books to the iBookStore gives customers a lot of reading material without having to buy anything. I'm sure publishers really loved that move, they want the whole iBookStore's eyeballs to themselves and customers buying instead of freeloading.

Once people find out about the hundreds of thousands of free e-books available (look for my post in Temporary Insanity Forum for links) and realize it's going to be a lot of work transferring them to the iPad, they will decide to just use their computer in the first place, has more storage too.

The flaw in your argument is that they sold as soon as they could. They were not waiting for an opportune time. They were not thinking: hey the iPad will be out in five years, lets issue some executive stock options. Maybe it was just coincidence they sold the options right before tax time and they needed to sell some shares to cover taxes anyway. Besides, do you think these guys go out and spend millions a year on themselves? They, like most executives, have side interests that they are investing in. You are thinking like an investor that is trying to get a return on their money. In this case, the money is a reward. A lot of it is probably angel investing. They are not lining their pockets so they can buy some third world country and an army of servants or something... They do have new options that will vest years from now after all. Apple will continue it's innovation. After all they haven't slacked yet in the last ten years. If they ever slow down, I'm sure it will be because they don't want to grow anymore. If they reach that point, I'm sure they will switch to paying dividends instead of luring investors with company growth. They have products that take a lot of motivation to switch from so they would have to be doing very poorly to decline in value. You don't just trivially say, I think I'm going to switch to Windows this week because it takes a lot of work and reinvestment to switch to another platform.

As to your argument that strangely ties the iBookStore to their stock price even though it is run to break even, the publishers already know they can circumvent Apple if they want to. O'reily and Pragmatic Programmer are already distributing in epub format (and show a picture of the iPad on their download screen). I think they see the iBookStore giving them extra exposure though. You are also free to circumvent the iTunes music store, but people still use it. How much of a cut do you think brick and mortar stores take? I'm sure it's more then 30%. I doubt everyone will decided to forgo new books and read nothing but classics... that is a history teachers pipe dream.
post #27 of 77
Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

these shares were given to them over 5 years ago, and they sold them as soon as they legally could. The stock could have been at 150 and they'd still make a killing. The imminent iPad release is irrelevant.

Go home.
post #28 of 77
Quote:
Originally Posted by joelsalt View Post

it very well could be a coincidence.

But the timing is a bit odd isn't it?

Relly guys? You're either being spectacularly obtuse, willfully goofy, or ignoring the facts on the ground. Why wouldn't the executives, who are in full ownership of the knowledge (known also by the public at large) that the stock price tends to float prior to a new release of product NOT choose to exercise their stock options to their own advantage. The only issue here is making sure that they do so without the appearance of using "insider" information - which is what SEC Form 4 Rule 10b5-1 is supposed to prevent. So once they have notified the SEC of their intent to sell they sell. Nothing magical here. Note also that their older options were replaced with newer options (see my response above) at the same amount. So while they were able to net out profitably with their current matured options, the new ones were given them AT THE CURRENT STOCK PRICE. So Apple will have to do EVEN BETTER for them to profit once these new ones mature in however many years. Stock options are meant to ensure that the executives are driving strong company performance and to compensate them when they do so successfully.

It is rather silly to expect the exercise of the stock options at a stock price low point isn't it?? SO why all the idiotic speculation about what is driving this
post #29 of 77
Before people jump off on conspiracy theories -- as a few already have -- it is important to note that insider sales have been generally increasing these past couple of months across-the-board in corporate America. Executives from many well-known companies -- e.g., Cisco, Walmart, Amazon, Google, to name just a few -- have been doing exactly the same thing. (See, e.g., http://www.insider-monitor.com/).

It is probably largely driven by the fact that many options were hugely under water for the past couple of years, and finally, executives have had the opportunity to cash in when these things have vested and the market has rebounded.

Could it be a larger 'sell' signal? Some think so, and some empirical evidence points to a short-term negative stock price reaction to such sales.

However, in the long-run, it does not amount to much, and most of these execs (certainly the ones listed from AAPL) have a huge chunk of their wealth still tied to the future value of the stock.
post #30 of 77
Quote:
Originally Posted by masternav View Post

Re

SO why all the idiotic speculation about what is driving this

Trolls in the thread.
post #31 of 77
I wonder if some motivation has to do obama raising capital gains tax rates to 20% (+3.8%=23.8% on sales over $200,000) next year to pay for the health care bill.

BTW, you report $1.00 over $200,000 in gain, you pay 3.8% for all of the gain; not just the dollars over $200,000.
post #32 of 77
Quote:
Originally Posted by SpotOn View Post

Your thinking short term, these executives knew well in advance the stock would be high before a release of a new product.

The very fact that they are selling goes to show they don't believe the stock is going to keep go up, rather it's going to trend down for some reason or several reasons. Likely they believe the iPad is not going to be such a success as they lead people to believe.

After all there is a huge cost barrier to the iPad and there's a recession going on. The iPad is not a standalone device, it requires a investment in a computer to make it work, so that limits it's sales to those who already have a computer and need another device. It's already been shown it's going to take sales away from the iPod Touch.

Also it's just a matter of time before publishers realize they can just sell their content directly to the computer users and make all the profit and undercut Apple's 30% iBookStore commission.

The consumer will decide they can get the same content cheaper on their computers and not have to buy a $500 or more device to read e-books.

Also the fact that Apple just added 30,000 free e-books to the iBookStore gives customers a lot of reading material without having to buy anything. I'm sure publishers really loved that move, they want the whole iBookStore's eyeballs to themselves and customers buying instead of freeloading.

Once people find out about the hundreds of thousands of free e-books available (look for my post in Temporary Insanity Forum for links) and realize it's going to be a lot of work transferring them to the iPad, they will decide to just use their computer in the first place, has more storage too.

As a mentioned above - spectacularly obtuse. I'm not even going to dignify so much nonsense with a point-by-point rebuttal - you seriously lack understanding around pub distribution, around the nature of free to paid content, and financial operations for executives in general, among other things. At least attempt to do the very least amount of backgrounding about the subject matter before you embarrass yourself at the same level that our dear Turet-ridden commenter TECHSTUD does.
post #33 of 77
Quote:
Originally Posted by anantksundaram View Post

Before people jump off on conspiracy theories -- as a few already have -- it is important to note that insider sales have been generally increasing these past couple of months across-the-board in corporate America. Executives from many well-known companies -- e.g., Cisco, Walmart, Amazon, Google, to name just a few -- have been doing exactly the same thing. (See, e.g., http://www.insider-monitor.com/).

It is probably largely driven by the fact that many options were hugely under water for the past couple of years, and finally, executives have had the opportunity to cash in when these things have vested and the market has rebounded.

Could it be a larger 'sell' signal? Some think so, and some empirical evidence points to a short-term negative stock price reaction to such sales.

However, in the long-run, it does not amount to much, and most of these execs (certainly the ones listed from AAPL) have a huge chunk of their wealth still tied to the future value of the stock.

Unlike most companies, AAPL was only underwater for a short period of time early last year (if at all). Had the options vested then, I'm sure we would have seen some options sold at that time. As noted, this has nothing to do with the iPad.
post #34 of 77
Quote:
Originally Posted by MsNly View Post

Stock is up over $4.50 today by the way.

yep. doesn't seem to have made a big difference cause it's back up this morning. i can't wait to see what happens over the next few weeks as the ipad comes out, the ipad 3g comes out, new laptops could be announced. perhaps new desktops also (or at least a new pro), the new phone could happen.

a friend of mine was smart enough to buy some stock during the great plunge and in june can sell it with a huge tax penalty. He says if it hits $250 a share he is likely to sell at least some. Especially if there are new laptops cause his is 5 years old.

Quote:
Originally Posted by TECHSTUD View Post

OK then how about "They're smart enough to sell right before iPad is released."?
Or do you think that pure coincidence?

the stock price has been going up at least a few cents pretty much every day since the ipad release date was announced. And with more and more companies signing on for ebooks, etextbooks, games etc the fever is high. The likelihood is that the price will jump early the first week of April when the sales numbers for days one and two come out, especially if reports of continued lines and crowds that week come with the numbers. The executives would be idiots to sell now because they would lose money.

Also, even if the price had dropped, there would be all kinds of talk of insider trading because why would they sell right before a major release unless they knew it was going to be bad. So that's another possible ding on them. And another huge one. You really think that Heir Apparent Tim Cook would risk his move to the throne like that.
post #35 of 77
Quote:
Originally Posted by Blastdoor View Post

So are you putting your money where your mouth is and shorting Apple stock?

Not short, but I did take my profits just like the Apple executives did.
post #36 of 77
Quote:
Originally Posted by Quadra 610 View Post

(Obviously implying that the sell-off was Apple execs bailing because they have little faith in their product.)

?? That's your interpretation only. I never inferred that in the least.
post #37 of 77
Quote:
Originally Posted by studiomusic View Post

Remember, executives can't just sell stock as they want. They have to file papers a long time before the intended sale date. That date just happened to be the same day as the (then) all-time high

Actually, in this case, they cannot sell stock they do not own.
The stock was issued in 2005 but they could not sell it because they were not fully vested (they didn't fully own the stock) until Wednesday.
post #38 of 77
Quote:
Originally Posted by AppleStud View Post

these shares were given to them over 5 years ago, and they sold them as soon as they legally could. The stock could have been at 150 and they'd still make a killing. The imminent iPad release is irrelevant.

Go home.

Could have, should have , would have.
I'm sure they wouldn't care if they sell now or at $150.
post #39 of 77
Quote:
Originally Posted by Quadra 610 View Post

Don't bother. Their name still shows up when they post, just the contents of their post are hidden, with an option on the side to reveal them. The only real way for an Ignore List to to work is to hide their posts completely.

The OP needs to know to click on the link named "User CP" and then in the User Control Panel to click on "Edit Ignore List" and then add the soon-to-be-ignored-troll's name to the "Add a Member to Your List. . . " box and click Okay. BTW, my ignore list is up to 274.
Unfortunately, for the ignore list to be really effective, the ignored member's remarks should also be hidden, especially when they're quoted during an admonition by a Moderator to "Don't feed the Trolls."
post #40 of 77
Quote:
Originally Posted by Quadra 610 View Post

Trolls in the thread.

Trolls this, trolls that- do you understand how limited your vocabulary is?
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