Insider Transactions At Apple

  • Posted: 19 June 2002 01:52 PM #16

    The devil is in the details

    I understand that hey have to give 60 days notice before they sell.  Is this true?  Have all these shares been sold?

    These are key issues that have not been spelled out here, and I do not know myself.

    Sincerely,
    Dr. L

         
  • Posted: 19 June 2002 02:16 PM #17

    Lawsuits/ SEC investigation will follow

    I have no doubt that there will be investor lawsuits and/or an SEC investigation.  All of this insider selling combined with this earnings warning is a total red flag.

    If you have followed Apple stock you know that stock price rises as MacWorld approaches and then drops slightly afterward.  If Apple was set to release any blockbuster products at MacWorld NY, then these execs would have held their shares a little longer.  Obviously, they have an inside track as to what is coming down the pipeline and the earnings/product outlook must have appeared rather disappointing.

    I hope these insiders are planning to set aside some cash for the impending lawsuits.

         
  • Posted: 19 June 2002 05:36 PM #18

    APPL

    well what an interesting thread so far, so i figured id better join and post.  im not sure how many of you own apple stock but i for one do and w/ jaguar coming, the upgraded powerschool program, xserve, mwny, and not to mention apple acquiring both nothing real and silicon grail you’d figure our stocks would be a little better, but oh well i read somewhere that needham & co. are giving apple a strong buy rating, and then about 3 other firms giving them a not so good rating, whats up with that. well thanks for letting me release some steam.

    oh yeah im not listing the ad campaign because its not that good.


    aloha

         
  • Posted: 19 June 2002 06:02 PM #19

    If I had any extra cash, I would consider right now a buying opportunity for AAPL.

    (standard disclaimers, etc etc. rolleyes )

         
  • Posted: 19 June 2002 08:27 PM #20

    I don’t see any connection between the sale of shares and the revenue and earnings warning. I see a group of Apple execs choosing to sell shares around the same time possibly due to personal reaons, vesting schedules for the options, etc. and a relatively long wait until sales in the PC business begin to turn north.

         
  • Posted: 23 June 2002 02:27 PM #21

    When were or will be the sales

    Still, no one has given any info on the dates of the sales.

    Have the sales been completed?

    Are the sales to be next month?

    ?????
    Dr. L

         
  • Avatar

    Posted: 23 June 2002 05:49 PM #22

    Almost all of the sales have taken place.

    Inside Trading Report

    Signature

    Editor - The Mac Observer

    Favorite (but less relevant than it used to be) Quote: Microsoft’s tyranny lies not in its success, but in the way it achieved and maintains that success.

         
  • Posted: 24 June 2002 02:18 AM #23

    Thanks

    Many thanks, Bryan ! ! !

         
  • Posted: 24 June 2002 07:52 AM #24

    Great link Bryan, thanks.  Didn’t know they had that info on Yahoo Finance.

         
  • Posted: 28 June 2002 01:43 PM #25

    I’ve got a link to Yahoo! Money   on an investigation regarding insider trading by the SEC .

    This doesn’t look well at all. To be honest, I know $@%& about stocks, but selling them a few weeks before announcing lower estimates sounds like insider trading, especially since it isn’t the first time in the last year. I’m not happy with it and I doubt that the small AAPL shareholder will happy with it either.

    Signature

    Tjeerd van Hoytema

    —-
    Join us at irc.macobserver.com #macobserver

         
  • Avatar

    Posted: 28 June 2002 05:24 PM #26

    I too consider these prices to be a buying oppotunity.  With Apple’s cash position, assets, and patent potfolio, there is literally no risk.

    IMO

    For the sake of full disclosure as a media person, I have a very small stake in Apple.  grin

    Signature

    Editor - The Mac Observer

    Favorite (but less relevant than it used to be) Quote: Microsoft’s tyranny lies not in its success, but in the way it achieved and maintains that success.

         
  • Posted: 28 June 2002 07:50 PM #27

    I really think this wouldn’t be getting the play it is if the climate wasn’t suddenly all about companies having out and out fraud (Worldcom) or at least mistakes (Xerox could be mistakes or fraud).  It happening twice is certainly big enough to warrant looking into, but it’s also small enough that it could easily be coincidence.  I’m willing to give benefit of the doubt, but then I don’t own any AAPL shares.

         
  • Posted: 01 July 2002 06:58 PM #28

    SEC Link

    “Many more cases are investigated but do not result in action.”

    I trust everyone noticed this comment in the linked item to “investigation.”

    The SEC has not to my knowledge announced formally that anyone at Apple is “under investigation.”  We all know that’s the key indicator to indicate the *possibility* of wrongdoing.

    The conjecture which has occurred in this situation IMO is not warranted.  The CFO promptly announced, in response to first press concerns, that the timing was quite simply due to the fact that options, as elsewhere mentioned in this thread, had a window or had become available.

    The climate as we all know is very negative, and for good reason, at the present time as regards the stock market.  But the simple matter of innocent until guilty holds true.

    This is a good time to buy Apple stock and I purchased it and some other technology stocks last week.  Technology and services remain the lifeblood of the U.S. and it is my belief they will return to a stronger position in the market because of the kind of excellence which is exemplified by Apple, Steve Jobs, this executive team, and the whole of Apple.

    Mine is not an emotional appeal.  I believe Apple has proven with its product line that it continues to take a leadership position in the industry.  Assuming a good marketing strategy, which appears to be in place and growing, I see no reason why Apple should not be a good buy and the executives involved here given the presumption of innocence.

         
  • Posted: 01 July 2002 11:24 PM #29

    Re: SEC Link

    [quote author=“rad”]“Many more cases are investigated but do not result in action.”

    I trust everyone noticed this comment in the linked item to “investigation.”

    The SEC has not to my knowledge announced formally that anyone at Apple is “under investigation.”  We all know that’s the key indicator to indicate the *possibility* of wrongdoing.

    The conjecture which has occurred in this situation IMO is not warranted.  The CFO promptly announced, in response to first press concerns, that the timing was quite simply due to the fact that options, as elsewhere mentioned in this thread, had a window or had become available.

    The climate as we all know is very negative, and for good reason, at the present time as regards the stock market.  But the simple matter of innocent until guilty holds true.

    I think these are key points that have to be kept in mind. I have yet to read Fred Anderson’s comments but the issue of the short time window makes a lot of sense.

    Executives have severely restricted opportunities to sell shares and the fact that several executives chose to sell shares around the same does not disturb me.

    What happened at Enron and WorldCom should not be linked to what happened at Xerox and none of the aforementioned problems should be connected in any way to Apple or the selling of shares by Apple executives.

    Until information is available as to the time window available to Apple executives to sell shares and the vesting schedule for which the shares sold may have become eligible for exercise by Apple executives, the world needs to reserve judgment IMHO.

    The stock sales may have been planned by the employees months in advance. Remember, too, that the transactions in question involve stock options, not stock appreciation rights. When the shares are exercised the executive owes Apple money. Selling some, most or all of the exercised options is the way most executives cover the cost.

    There is nothing illegal about insiders selling shares. There is nothing illegal if a group of insiders choose to sell shares around the same time.

    Robert

         
  • Posted: 02 July 2002 01:59 AM #30

    Re: SEC Link

    [quote author=“DawnTreader”]Remember, too, that the transactions in question involve stock options, not stock appreciation rights. When the shares are exercised the executive owes Apple money. Selling some, most or all of the exercised options is the way most executives cover the cost.

    A good basic point of clarification I wish I had included in my comments.

    Thank you.