Well played, Al Gore. The former Vice President of the US decided to take advantage of his stock options at Apple to take home some $29 million worth of shares. With the current price of stock for AAPL being around $498, and his options dropping that cost for him to a mere $7.475, he only spent around $441,000 on them. Just how many shares did Mr. Gore buy? 59,000. The timing is what I meant by the “well played” part, seeing as Apple’s earnings call is next week, January 23rd, and if you have paid any attention to Apple’s stock in the past, it always drops before earnings calls, only to bounce back even stronger afterwards. If this ends up the same way, as many analysts say it will, than Mr. Gore made a smart move buying them now, as the worth of his shares could see a dramatic rise in the coming weeks. Only time will tell.
What do you think? Was this a smart move? Or premature? Let us know in the comments, or tweet me @TiP_Kyle.