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Bryan M. Wolfe
| November 21, 2012
Disney Chief Trades Company Stock For Another Investment In Apple
Bob Iger, chief executive of Disney, has been rearranging his portfolio in recent days. One week after exercising a million options on company stock, he purchased $1 million worth of shares in Apple. Iger’s move is considered to be a bullish one, according to Business Insider. Iger, who also purchased $1 million worth of Apple shares a year ago, also sits on the company’s board. His recent selloff of Disney stock netted him $17.9 million. More importantly:
When an insider, like a board member, buys stock on the open market, it's usually considered a bullish sign. Apple shares have slumped lately amid concerns of increasing competition and tightening profit margins.In recent weeks, Apple stock has dropped considerably. Since reaching a high of $702.10 on Sept. 19, Cupertino’s stock is currently trading at $563. However, this is much better than it had be performing just days ago.