Apple’s shares dipped below the $20 mark for the first time in six months yesterday, with industry observers blaming sluggish global PC sales.
Apple’s share-price is said to have been affected by a Credit Suisse First Boston report stating that global PC sales will remain flat in 2002, with a 7 per cent decline compared to previous estimates of 3 per cent. The company’s share value has fallen by $4 in recent weeks.
A number of Apple executives are either planning to, or have already sold, Apple shares in recent weeks, including Peter Oppenheimer, Apple’s senior VP of finance. He has filed to sell 52,500 shares, valued at $3.7 million.
Other executives include senior vice president Timothy Cook, who pocketed $8.5 million from the sale of shares; Apple’s chief financial officer Fred Anderson, who netted $3.52 million; and general counsel Nancy Heinen who made a gain of $2.16 million on shares sold.