Apple's executives are buying-up Apple stock, after selling millions of shares in the company earlier this year.

Board member Arthur Levinson bought some 50,000 shares on August 1 for between $14.87 and $14.90 per share.

Other unnamed Apple, Lucent Technologies and LSI Logic executives also bought Apple stock in August, according to a Reuters report.

It claims top US executives have bought more shares of their own companies in August than in July. Insider buying in August rose to $219 million - 67 per cent higher than in July.

Apple's chief financial officer Fred Anderson repudiated allegations of insider trading in June after a Web site questioned executive sales of shares in the spring, which occurred just before Apple announced a profit warning for the coming quarter.

Anderson said: "I can assure you that no executive would have exercised options had they believed we would not meet our original guidance for the quarter."

Apple's stock closed at $14.87 on the Nasdaq Friday.