"From April 1 through April 27, several top [Apple] execs sold nearly 3 million shares worth at least $47.8 million, according to government filings. After exercising options, operations and sales chief Tim Cook took home $14.8 million. Chief Financial Officer Fred Anderson tallied $10.9 million, followed by hardware maven Jon Rubinstein at $8.1 million. Other sellers include applications boss Sina Tamaddon, Marketing VP Phil Schiller, and Corporate Counsel Nancy Heinen," reports Business Week Online.
"But does the cashing in mean these execs believe Apple's stock has peaked? A look at past insider selling gives cause for concern. The last time Apple execs sold shares in big numbers was in April and May of 2002, when nine officials sold 3.7 million shares. Over the eight months that followed, the stock tumbled from the mid-$20s to $14. "We can only guess why [the execs] are selling now and whether they know something we don't," says Kevin Conway, an analyst with Thomson Financial."
.jpg?w=600)
