While the other members of the ‘Magnificent Seven,’ barring Tesla (NASDAQ: TSLA), have been on a surge in 2024, managing to increase their valuation significantly, Apple (NASDAQ: AAPL) just recently managed to trade in the green for this year.
Nevertheless, Apple has experienced less insider trading activity than the other elite club members, with only three recorded insider sales since the start of this year, which could signify the trust AAPL stock receives from its owners and the belief in the better days ahead.
On May 30, Chairman Arthur Levinson strategically moved to capitalize on his holdings. Levinson sold 75,000 AAPL shares at an average price of $191.5 per share, reaping a substantial profit of $14,368,500.
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Not the only insider sale of AAPL stock by Levinson in 2024
Despite strong shareholder confidence in AAPL stock, Levinson’s sales have been the most notable among the three transactions in 2024. His previous sale was also significant.
On February 29, Levinson sold 100,000 shares at an average price of $180.94 per share, earning a substantial profit of $18 million.
AAPL stock is starting to pick up steam again
The last several trading sessions have been positive for AAPL stock. On the most recent trading day, it gained 0.93%, closing at $194.03. These gains follow a series of solid performances over the past five trading sessions, during which saw Apple stock rise by 1.29%.
Last month was the best for Apple shares in 2024, adding 6.53% to their valuation.
Considering the recent strong performances of AAPL stock, it is likely that the Levinson sales were profit-taking oriented, without worries about Apple’s future performance as a company.
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