Apple (AAPL) CEO Tim Cook made his biggest sale of company stock in more than two years as🌳 shares of the iPhone maker have lost ground since hitting an all-time high this summer.

In a regulatory filing, Cook reported he sold 511,000 shares at between $171 and $173 each for a total of $87.8 million. He still holds 3.28 million shares. In August 2021, Cook sold about 4.6 million shares valued at more than $750 million.

Senior Executive Vice Presidents Deidre O’Brien and Katherine Adaꦆms joined Cook in disposing of sha🅷res, each selling some $11.3 million worth.

Apple helped lead a rally in tech stocks this year, closing at a record of $196.45 on July 31. That was a more than 50% year-to-date increase. 🔯However, since that time, shares have faded, losing about🦋 12% from that peak. 

Shares were little changed on Wednesday as of 3 p.m. ET following the news, and after longtime Apple bull, KeyBanc’s Brandon Nispel, 澳洲幸运5官方开奖结果体彩网:downgraded the stock. Nispel said valuations are too high and warned that🅠 U.S. iPhone sales are likely to struggle.