Briefly: Jobs picks up 120,000 Apple shares in options move
Apple chief executive Steve Jobs this week increased his stake in the company by exercising options to purchase 120,000 additional shares, according to regulatory filings with the Securities and Exchange Commission.
It's unclear from the filings at what point Jobs acquired the specific options, which he purchased for $5.75 apiece on Monday.
Documents show the options, valued at approximately $15 million as of Apple's closing price on Monday, were set to expire the following day.
Following the transaction, Jobs stake in Apple included 5,546,451 shares. Those shares, as of Monday, were valued at over $700 million.
It's unclear from the filings at what point Jobs acquired the specific options, which he purchased for $5.75 apiece on Monday.
Documents show the options, valued at approximately $15 million as of Apple's closing price on Monday, were set to expire the following day.
Following the transaction, Jobs stake in Apple included 5,546,451 shares. Those shares, as of Monday, were valued at over $700 million.
Comments
500 points down in few days!
Whats been up with Apple's stock lately? It was at 145 just a week ago.
I was on vacation when it took the biggest hit; what caused it?
the entire market is down, apple is just part of it
Tech stocks are usually relatively safe from market trouble tho; aren't they?
Jobs lost money today.
I must be missing something here. He buys somthing at $5.75 that's valued today at over $100.00 and you say he lost money ... please explain .
I must be missing something here. He buys somthing at $5.75 that's valued today at over $100.00 and you say he lost money ... please explain .
Best you do a Google search and get it from a horses mouth so to speak, e.g., "What are stock options" or "How do stock options work" and go from there.
Trusting what bloggers write can be tentative to say the least.
Tech stocks are usually relatively safe from market trouble tho; aren't they?
I don't think those who held Enron stock would agree.
I must be missing something here. He buys somthing at $5.75 that's valued today at over $100.00 and you say he lost money ... please explain .
His stock was worth more yesterday.
the entire market is down, apple is just part of it
500 points down in few days!
The entire market hasn't lost almost 30% of their value in the last week though.
I think it was caused by the fact that the stock was over valued because of the jesus phone. Everyone believed all of the hype and forgot that while it is a great device, it is a lot of money, especially when most people use phones to call people and thats it. The stock is just correcting itself for the 50 points it gained in the last few months which were largely speculative increases.
Here's an idea for a story for tomorrows headlines:
"This just in: Steve wipes his butt using the folded method instead of the proven "bunched" approach."
Fill in the rest and leave it on my desk in the morning.
Whats been up with Apple's stock lately? It was at 145 just a week ago.
What is up is the entire stock market has has dropped the past two weeks. The dow alone is down like 1200 points in the last two weeks. People don't buy computers when the can't even afford to pay their mortgage.
The market is taking a beating because housing is down and all those people that took loans on their homes with teaser rates now can't afford to switch to conventional loans.
i wonder if Piper still thinks Apple stock will hit $200 by end of 2008
What is up is the entire stock market has has dropped the past two weeks. The dow alone is down like 1200 points in the last two weeks. People don't buy computers when the can't even afford to pay their mortgage.
The market is taking a beating because housing is down and all those people that took loans on their homes with teaser rates now can't afford to switch to conventional loans.
I understand that. But it doesn't account for the massive loss the Apple stock has had in the past week.
I understand that. But it doesn't account for the massive loss the Apple stock has had in the past week.
there is nothing rational about the stock market, you shouldn't be playing if you don't know the game!
Are we going to make an AI entry every time Jobs (or someone at Apple) buys Apple stock?
Here's an idea for a story for tomorrows headlines:
"This just in: Steve wipes his butt using the folded method instead of the proven "bunched" approach."
Fill in the rest and leave it on my desk in the morning.
The last stock activity for Jobs was over a year ago... It's not like he acquires or sells shares every month. And when he does, it's news.
So the answer to your question is, "Yes." When any member of Apple's executive branch moves millions of dollars worth of shares, in either direction, we will report it.
Best,
K
I understand that. But it doesn't account for the massive loss the Apple stock has had in the past week.
My guess is that since it had such an incredible run, people who own apple are using this down-turn in the market to lock in their profits, which is in turn driving apple down a disproportionately large amount.
I understand that. But it doesn't account for the massive loss the Apple stock has had in the past week.
Well it does because the stock market is rarely based on facts but on perception. One sector goes bad and people just start selling off. Yesterday the dow dropped 180 points just because Walmart didn't meet market predictions.
Apple stocks could drop for many reasons not related to the company but just hte Nasdaq. This month overall has been really up and down for all sectors.
So the answer to your question is, "Yes." When any member of Apple's executive branch moves millions of dollars worth of shares, in either direction, we will report it.
K
Don't let the critics get at you Kasper... you're the one making money every time they frequent your site.
My guess is that since it had such an incredible run, people who own apple are using this down-turn in the market to lock in their profits, which is in turn driving apple down a disproportionately large amount.
Yep, I read an interesting analysis on this (but can't for the life of me find the page now!) That basically said the hedge funds holding AAPL stock also hold stock in the markets affected by the sub-prime problems that are causing the current crash. What happens is that they suddenly find themselves holding a large amount of stock that's lost most of its value. "Margin calls" start to be made (i.e. the hedge fund managers find the brokers now want the money to pay for these almost worthless stocks) and so to cover those calls they have to sell off their most profitable stocks.
Unfortunately one of the most profitable stocks in recent time is AAPL, so that's the one that has to go. This huge sell off is what's driving the stock value down disproportionately - heck even at these levels, someone who bought it a year ago would still make substantial money to pay off their other loses, that's why we're still seeing more sellers than buyers.
I don't think there's any fundamental problem with AAPL stock or their products, I think (IMHO of course!) that they'll hit their targets and sales will be maintained (provided no huge recession follows this current downturn but thats not looking too convincing today