Apple stock (AAPL) investors have been handed some news to digest after Chairman of the Board Arthur Levinson sold more than $20 million worth of shares on August 28. The move may not change Apple’s fundamentals, but it does raise questions about insider sentiment at a time when the stock has been underperforming the broader market.
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Apple Chairman Cashes Out a Slice of Holdings
A filing with the Securities and Exchange Commission showed that Levinson sold 90,000 shares of Apple common stock on August 28 at prices between $231.82 and $232.36. While the transaction netted him more than $20 million, it represents only a small portion of his holdings. Levinson still directly owns more than 4 million shares of Apple, valued around $976 million, and indirectly holds another $13 million through his spouse.
Levinson has served as Apple’s chairman since 2011, after joining the board in 2000. He is also CEO of Alphabet-owned (GOOGL) biotech company Calico, which focuses on aging research. Neither Apple nor Calico commented on the transaction.
Apple Stock Lags the Market but Shows Bright Spots
While Apple shares are up about 3% since August 28, the stock is still down 4.3% in 2025, compared with an 11% gain in the S&P 500 (SPX). Tariff concerns and delays in rolling out new artificial intelligence features have weighed on the tech giant’s momentum.
Still, Apple’s recent earnings offered reassurance. Third-quarter revenue and profits topped analyst expectations, with iPhone sales, nearly half of Apple’s net sales, coming in stronger than forecast. Another positive development came from the Google antitrust ruling. A federal judge did not bar Google from paying Apple to remain the default search provider on its devices, preserving one of Apple’s lucrative revenue streams.
Investors Turn to Next Week’s Product Launch
The next test for Apple stock will come on September 9, when the company is expected to reveal its iPhone 17 lineup at its annual product showcase. Historically, Apple product launches have served as catalysts for the stock, and investors will be focusing on updates on AI integration, pricing strategy, and demand signals heading into the holiday season.
For now, Levinson’s sale looks more like a personal financial move than a red flag. But with Apple trailing the market in 2025, stockholders will want to see the upcoming event spark renewed momentum.
Investors can see which insiders are selling on the TipRanks Insider Trading Tool. Click on the image below to find out more.
