Key insights
- Apple director Arthur Levinson sold $71.2M in shares, coinciding with AAPL trading near its 52-week high and appearing overvalued according to InvestingPro. Intel is reportedly manufacturing chips for Apple, boosting Intel's stock. Wedbush increased Apple's price target to $400, citing AI involvement. Levinson's sale, while substantial, is a minor negative signal given the stock's valuation and positive news flow.
Arthur D. Levinson, a director at Apple Inc. (NASDAQ:AAPL), sold common stock worth approximately $71.2 million on May 6, 2026. The transactions involved the disposal of 250,000 shares at prices ranging from $283.89 to $285.385 per share.The sale comes as Apple shares trade near their 52-week high of $294.76, with the stock currently at $293.21. According to InvestingPro analysis, Apple appears overvalued at current levels based on Fair Value calculations, despite the company’s strong 49% return over the past year.
According to a filing with the Securities and Exchange Commission, Mr. Levinson executed two separate sales. The first involved 149,527 shares sold at a weighted average price of $284.57 per share, with individual trades ranging from $283.89 to $284.885. A second transaction saw the sale of 100,473 shares at a weighted average price of $285.04 per share, with prices for individual trades between $284.89 and $285.385. The total value for these sales transactions amounted to $71,189,722.
Additionally, Mr. Levinson disposed of 5,000 shares of common stock through a gift on the same date.
Following these transactions, Mr. Levinson directly holds 3,814,576 shares of Apple common stock. He also indirectly holds 56,000 shares through his spouse.InvestingPro subscribers have access to 15+ additional exclusive tips for Apple, along with comprehensive financial health metrics and detailed analysis.
In other recent news, Intel has reportedly reached a preliminary agreement with Apple to manufacture chips for Apple’s devices. This development follows intensive talks over the past year, with the formal deal being finalized recently. Bloomberg News initially reported the discussions, and the news has contributed to a significant rise in Intel’s stock. Meanwhile, Apple has experienced a boost in its stock value as Wedbush increased its price target to $400, highlighting Apple’s significant involvement in the artificial intelligence sector. The firm anticipates that a substantial portion of the global population will soon access AI through Apple devices.
In legal matters, the U.S. Supreme Court denied Apple’s request to pause a ruling related to App Store changes following an antitrust lawsuit by Epic Games. The decision by Justice Elena Kagan upholds the 9th U.S. Circuit Court of Appeals’ ruling that found Apple in contempt. Apple had sought a delay to appeal the decision further. These recent developments highlight significant shifts and challenges for both Intel and Apple in the technology landscape.
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