macnn
01/31/2008, 9:40am, EST
Thursday, January 31st
Gore buys into extra 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.
, 
, 10
, 
, 
, 
, 
, 
Top
subscribe to comments
for this article
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!)
What was disappointing was the reaction of the crazy stockholders, not the results!! What about the results were disappointing?
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.
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.
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.