January 25, 2017

Tim Cook sells $7.2M worth of AAPL shares this month, as scheduled back in 2015

Two Securities and Exchanges Commission filings show that Tim Cook sold a total of 60,000 AAPL shares this month – in six batches of 10,000 shares each – for a total of around $7.2M.

June 15, 2012

Report: Wiretapped Goldman exec found guilty of insider trading in case that involves Apple

A federal jury just convicted Rajat Kumar Gupta, an ex-Goldman Sachs director, of insider trading in a case that involves swapped information about Apple and other technology firms.

According to the Wall Street Journal, Gupta was convicted on three counts of securities fraud, one count of conspiracy, and acquitted of two counts of securities fraud. The executive dabbled in a bit of insider trading when he discussed non-public boardroom information about his company and Procter & Gamble to a prominent hedge fund manager.

Raj Rajaratnam, the founder of Galleon Group, which is a New York-based hedge fund management firm, earned millions off Gupta’s tips. He is now serving an 11-year prison sentence on charges stemming from the insider trading case. Lawyers for Gupta recently submitted evidence that pinpointed another Goldman Sachs executive as sharing inside information with Rajaratnam.

As 9to5Mac previously detailed, David Loeb, who is head of Asia equity sales for Goldman Sachs Group Inc., in New York, was supposedly caught on a U.S. wiretap providing confidential information about Apple Inc., Intel Corp., and Hewlett-Packard Co., to Rajaratnam.

According to SFGate, the Manhattan jury contemplated the charges against Gupta, but did not listen the wiretap evidence during his trial. U.S. District Judge Jed Rakoff ruled that the wiretaps were inadmissible hearsay. An attorney for Gupta told the judge earlier this week that the evidence about Loeb was critical to the defense and proved “that another person committed an act of which the defendant stands accused.”

The defense rested its case and the jury concluded this morning. Gupta faces up to five years in prison for the conspiracy charge and up to 20 years for each fraud charge. His sentencing is set for Oct. 18.

February 18, 2012

Analyst John Kinnucan is charged with two counts of securities fraud, two counts of conspiracy, and insider trading for leaking sales numbers from Apple, reported Reuters. The lawsuits against the analyst were filed in a U.S. District Court in Manhattan, and he was arrested on Thursday.

Kinnucan received tips from Apple’s suppliers SanDisk and Flextronics so he could leak sales numbers and forecasts to hedge funds. One SanDisk executive, Don Barnetson, is also in court on counts for insider trading. Kinnucan leaked the secret information about the iPhone’s sales between 2008 and 2010, and he would get the information by bribing suppliers. He is rumored to have earned $1.58 million for leaking Apple’s trade secrets.

Between 2008 and 2010, investigators said, Kinnucan paid insiders with cash, trips and other benefits to get secret information, including sales trends for Apple Inc’s iPhone. Kinnucan then funneled the information to hedge fund traders in California and New York in exchange for hundreds of thousands of dollars, investigators said.

Kinnucan’s arrest is part of a bigger crack down on insider trading within hedge funds. Over 60 people were already arrested during the operation, dubbed “Operation Perfect Hedge,” including a Flextronics executive for leaking iPhone sales numbers.

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July 4, 2017

Nasdaq glitch sets AAPL & other shares to $123.47 in non-existent stock crash

A Nasdaq glitch caused a number of major trading platforms to display AAPL’s share value as $123.47, some 14.3% below its true value at the time. The incorrect price was shown on Bloomberg, Google Finance, Yahoo Finance and others.

October 26, 2016

Update: AAPL opened 3.59% down at exactly $114.

Despite Apple announcing Q4 earnings which lined-up almost perfectly with analyst expectations, the company’s shares price fell 3.26% in after-hours trading. After closing at $118.25 before the announcement, they were trading at $114.40 at the time of writing.

Although the company did report its first full-year decline in revenue since 2001, this had been predicted. Comparing the pre-announcement analyst consensus with the actual results, it’s remarkable just how close they were …

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March 22

A new report today from Business Insider shares new projections about how valuable Apple services will be to the company’s growth as iPhone shipments stagnate. Morgan Stanley analyst Katy Huberty believes the company’s services and Apple Watch will be the primary revenue growth drivers over the next five years.

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