As Apple's stock tumbled from a record high, CEO Tim Cook sold 511,000 shares worth about $41 million after taxes, his largest sale in more than two years, according to an Oct. 3 filing with the U.S. Securities and Exchange Commission.

After more than 20 years at Apple, he still owns about 3.28 million shares, according to data compiled by Bloomberg.
According to public data, Cook's last major stock sell-off was in August 2021, when he sold more than $750 million of Apple stock after ten years as CEO, for a net income of about $355 million after taxes.
Cook's stock sale follows a rare pay cut of about 40 percent to $49 million in 2023. According to CNBC and The Wall Street Journal, Apple said in a filing on January 12 that CEO Tim Cook received $99.42 million in total compensation in 2022, but will be paid less in 2023.
Apple said that in 2022, Cook received $3 million in salary, $12 million in non-equity incentive plan compensation, and about $1.5 million in all other compensation. He also received nearly $83 million in stock awards.
In 2023, Cook is targeted for total compensation of $49 million, the company said. As part of the changes, the percentage of stock units awarded to Cook in 2023 tied to Apple's performance will increase from 50 percent to 75 percent.
Apple said its compensation committee approved the 2023 target after balancing "shareholder feedback, Apple's exceptional performance, and Cook's recommendation to adjust his compensation based on the feedback received."
Other Apple executives also disclosed stock sales, including senior vice presidents Deirdre OBrien and Katherine Adams, who each sold $11.3 million in shares.
It is worth noting that Apple's current stock is also at a high position, starting from January this year, its stock began to rise all the way, with a price of $129, the highest surge to $197.99 in July, and in the last three months, Apple's stock price began to decline, the sell-off is also a high reduction.
As of Wednesday's close local time, Apple (AAPL) was up 0.73% at $173.66, with a market value of $2.7 trillion.
That same day, investment bank KeyBanc Capital Markets downgraded Apple's stock, citing a dim outlook for sales growth. Apple shares were down about 1.2 percent in premarket trading.
According to the Securities Times previously reported that when the iPhone15 series officially opened for sale, the topic of "iPhone15 and Plus break" once rushed to hot search. According to Shenzhen Huaqiang North people revealed that the iPhone15 series of mobile phones "market demand is really not ideal." Up to now there are still a lot of spot, basically no one to rob." The iPhone 15 Pro and iPhone 15 Pro Max both come at a premium.
In addition, some early iPhone 15 Pro owners have reported overheating issues with their iphones.
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On Wednesday, Apple released a software update to address overheating issues reported by some early buyers of the iPhone 15 Pro series. Apple said the update "provides important bug fixes and security updates that address an issue that could cause iphones to operate at temperatures higher than expected." The update also applies to older iphones and ipads.
Apple on Saturday blamed bugs in apps such as Uber, Instagram and some games, as well as in the iPhone software itself. According to Apple, the new device's Settings can overwork the processor and cause the body to overheat. The company said the software update will not slow down the new A17 Pro chip in the iPhone 15 Pro.
As a well-known Apple product analyst, Guo Ming𫠓¹ recently posted on the X platform that everything is going well, Apple's iPhone revenue and profit in the fourth quarter will be better than that
Breaking it down, Kuo pointed out that early sales figures show that iPhone15 Pro Max shipments have been revised up to 35 million units this year, up from 2,800 units for last year's iPhone 14 Pro Max
He said the iPhone 15 Plus may see an increase in orders because of lower expectations and not so bad in real sales. But sales of the iPhone 15 and iPhone 15 Pro both fell short of expectations, and the two models could be canceled if Apple doesn't cut prices.
He also insisted that 80 million iPhone 15 series phones will be shipped this year, up 5.3 percent from last year's 14 series. The sales of the iPhone 15 Pro Max will be the main growth driver for Apple's iPhone business in the fourth quarter of 2023.