I guess from now until the new iphone is released CNBC will be putting up 5-10 articles a day...here is what all those Apple fans can expect...let's see Upgraded camera...ooooooooooo Thinner ahhhhhhhhhh Waterproof...ooooooo Faster processor... Watch out! Wow this new phone is game changing.... Watch out as everyone spends $900 on a phone they already have. http://www.cnbc.com/2016/08/29/heres-whats-expected-to-be-in-the-iphone-7.html
Tim Cook cashed in $36 million in Apple stock: http://finance.yahoo.com/news/tim-cook-cashed-36-million-131523487.html Why he decided to sell his shares now? Doesn't he believe in the AAPL recovery? He cannot sell off all his APPL shares as it would send an extremely wrong message. However, he definitely considers that it would be better to keep part of his money somewhere beside the AAPL. Strange thing is that he did not wait for iPhone 7 release... What is going to happen when iPhone hit the shelves. Tim Cook decided not to wait for this "glorious" moment, he sold before it. If we assume that Tim Cook is a smart person and he does not like to lose money on the market and he has much more inner information about the Apple company and coming Apple product releases then we should be be dumping this stock like crazy.
I sold one-third position around $109, but I'm going to hold the rest (at least for now). That $110 level is sure powerful resistance for this giant. In the past whenever I've sold it AAPL continues higher, go figure. September 7th is the launch for iPhone 7, so get ready for the worldwide hype.
According to the Yahoo article: "Cook still has about 3.5 million shares in Apple that are set to vest over the next five years, depending on performance." What's surprising is Cook doesn't even own 1% of the firm! So he can't send the "wrong message" by selling off everything, since he still has unvested shares in the pipeline. Besides, Cook has sold plenty of times in the past. Check out this article from 2014 regarding Cook's prior AAPL sales of stock: http://www.cultofmac.com/297706/top-apple-execs-sell-143m-worth-stock/ "Cook now owns less than a 1 percent stake in Apple. He previously sold off chunks of stock in 2010, 2011 and 2012." Now, if he had NO shares left to vest, then it would create major doubts about how he feels long term about the stock, not just about the release of iPhone 7.
I'm currently long a 105 calendar with the short side expiring this Friday (long Oct 21). I'm liking the downtrend over the past week along with the slight bump in vol. I'll be out of this trade if AAPL tags the strike at any time this week.
Will catch up soon and head all time high not sure if that will happen this year but buyers remain at the helm