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AAPL Stock: 119 ( + 1.4 )

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Gore buys into extra Apple stock

updated 09:40 am EST, Thu January 31, 2008

Gore buys Apple stock

Al Gore has exercised his stock options to make a greater investment into Apple, reports indicate. The former US vice-president, now a member of Apple's board of directors, has used his privileged position to buy 1,000 shares in the company at a reduced rate of $7.48, offering an immediate profit potential of $124,060. Due to fluctuations in the market, the same shares were worth $131,540 by the end of Tuesday. Gore still has the opportunity to buy 59,000 more shares later on.

The purchase follows a dramatic fall in Apple's stock value within recent weeks, from a high approaching $200 to its current value, at just over $130. The decline began in earnest following the Macworld Expo in the middle of January, and was only accelerated by the release of disappointing financial results last week. Some analysts have seen this as an opportunity however, notably Steve Hach of ValuEngine, who argues that Apple stock could eventually rebound to hit a price target of $300.




by MacNN Staff

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Comments

  1. tbo

    Joined: Dec 1969

    0

    "Disappointing"?

    Haha! may i remind you of your own writings: http://www.ipodnn.com/articles/08/01/22/apples.record.earnings/

  1. climacs

    Joined: Dec 1969

    0

    disappointing

    only to those who expected Apple to continually post outrageous profits, instead of merely record-setting, fantastic profits.

    BUY BUY BUY!

    (I think Al Gore was doing a favor to Apple by exercising his options when there's such a 'small' difference between his options price and current market price!)

  1. ramallite

    Joined: Dec 1969

    0

    What?

    "and was only accelerated by the release of disappointing financial results last week."

    What was disappointing was the reaction of the crazy stockholders, not the results!! What about the results were disappointing?

  1. Paradise Pete

    Joined: Dec 1969

    0

    buybacks

    If this price is such a bargain, and Apple is sitting on a mountain of cash, then Apple ought to start buying back some shares. If they buy $1B worth and the stock rebounds to 200 then the company picks up a quick $500,000,000. If they are not taking advantage of this opportunity then maybe they're not so sure it is a bargain here.

  1. testudo

    Joined: Dec 1969

    0

    Re: what?

    It wasn't the earnings that were disappointing, it was the Q2 and future forecasts that Apple announced that caused the sell off.

  1. psdenno

    Joined: Dec 1969

    0

    The question is.....

    ....why buy only 1,000 shares at seven buck plus change per share if it's such a bargain?

  1. bloggerblog

    Joined: Dec 1969

    0

    re: buybacks

    it doesn't work that way. let's say Apple does what you say, and the stock goes up to the $200 mark. Per your theory, this should encourage others to buy, right? ok let's say they bought at $200 and the stock went-up to $230. Now Apple would want to rake-in profits, so they sell their shares, what do you think this would do to their stock? Riiiiight.... To Nose Dive to less than when it started, and s****-over their investors.

    As an investor, it is common knowledge that stock rises and falls. If stock never falls, then there is never an opportunity to buy. Therefore the name of the game is Buy Low and Sell High.

  1. testudo

    Joined: Dec 1969

    0

    Re: buybacks

    No, apple wouldn't sell their shares. They would use the shares to fund their option plans, or as collateral on loans and such (or as currency in a purchase).

  1. robttwo

    Joined: Dec 1969

    0

    warning

    Don't take "investing" advice from these responses - really people, know what you are talking about before posting.

    But, more importantly - Gore is the only thing I DONT like about Apple. But, looks like global warming is pretty profitable! (In fact, that's the ONLY thing it is.)

    Doofuses.

  1. christophersj

    Joined: Dec 1969

    0

    Ignorance

    Robttwo said, "looks like global warming is pretty profitable! (In fact, that's the ONLY thing it is.) "

    The fact that some businesses can make a profit during the coming great energy transition and away from fossil fuels is a GOOD thing. It means the transition will go easier. Fortunately, your Fox News misinformed science skills aren't needed for this.

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