Apple CEO Tim Cook Sells $24.18M in Shares Amid AI Push, Stock Decline

Apple Inc. CEO Tim Cook sold 108,136 shares of the company's stock on Wednesday, April 3, netting approximately $24.18 million, or about 1.76 billion yuan. This marks the third time Cook has sold Apple shares within the past year, bringing his total cash-out to over $110 million, or 8 billion yuan.

Cook's first sale occurred in April 2024, when he sold 196,400 shares for $33 million, coinciding with Apple's stock price reaching its highest point for the year. In October 2024, he sold another 224,000 shares for $50.27 million, during a period when Apple's stock price was under pressure due to supply chain cutbacks. The latest sale comes as Apple accelerates its deployment of artificial intelligence hardware and its stock price fluctuates at high levels. Apple's stock has declined by more than 10% year-to-date.

According to Apple's latest financial report, the company's total revenue for the first quarter of fiscal 2025 reached $124.3 billion, a 4% increase from the same period last year. Net income was $36.3 billion, up 4% year-over-year. The services business grew 14% year-over-year to $26.34 billion, while product lines such as Mac and iPad showed signs of recovery.

However, iPhone sales were less encouraging. Revenue from the Greater China region fell 11% year-over-year to $18.513 billion, making it the only region to experience negative growth. In addition to competition from local brands such as Huawei and Xiaomi, the lack of Apple Intelligence in China has weakened the differentiation advantage of the iPhone 16 series, dampening investor confidence.

On March 25, Cook visited the Apple retail store in Sanlitun. He posted on Weibo, "I am happy to be back at the Apple Sanlitun retail store, spending time with our amazing customers and team." He also shared a photo with the store's employees.

Cook also posted on Weibo, "The young talents in China always impress me! From tracking storms with a MacBook Pro to running large language models on a Mac Studio, to teaching physics with Apple Vision Pro, I am glad to see how our products help them achieve their dreams."

On March 24, Wang Wentao, Minister of Commerce, met with Tim Cook, CEO of Apple Inc. The Chinese side stated that China is committed to expanding its opening-up to the outside world, providing a fair competitive environment for foreign-invested enterprises, and supporting the fair participation of foreign-invested enterprise products in policies such as trade-ins for new purchases. Apple Inc. is welcome to increase its investment in China, deeply integrate into the Chinese market, and share development opportunities.

Cook stated that Apple's development in China is a model of mutually beneficial cooperation between the two countries' economies and trade. The company will continue to increase its investment in China's supply chain, research and development, and social welfare, supporting China's high-quality development.