To The Moon

So the saying goes: can't beat them, join them! Insiders at Apple sold over $41,000,000 in shares this week. The string of sales came from high ranking executives including CEO Tim Cook, whose last sale was over 2 years ago. The four top executives sold over $40 million worth of stock and probably just ticked the top in $AAPL: 1. WILLIAMS JEFFREY COO 2. Adams Katherine L. SVP 3. COOK TIMOTHY CEO 4. PMO'BRIEN DEIRDRE SVP Run AAPL Run Facing "plummeting" Mac sales amid a severe PC market downturn, Apple in January completely suspended production of its custom-designed M2 series processors that power new MacBook Pro and Mac mini models and the latest MacBook Air, according to The Elec. Taiwan's TSMC did not send 5 nano-process M2 chip wafer workpieces to the outsourced semiconductor package test (OSAT) in January and February, according to the OSAT industry on the 3rd. It is believed that it was because Apple requested to stop production as demand for MacBooks dwindled. Bad News ahead! As the report notes, TSMC finalizes its fabrication process by sending the wafer-processed products to Amkor Technology's Korean factory for packaging work. However, in January and February there were reportedly no products forthcoming, which also forced the package material parts company for M2 chips to stop supplying the usual materials. Apple's revenue was down approximately 5% year-over-year in the first quarter, a steeper decline than had been expected by analysts as Apple grappled with iPhone supply issues in particular but which also saw declines in Mac and wearables. iPad revenue was up 30% thanks to the launch of new M2 iPad models, but Mac revenue saw a notable drop because there were no new Macs released in the final months of 2022. Mac revenue was $7.7 billion, down from $10.9 billion in the year-ago quarter. An apple in the hand is worth two in the basket During his Q1 2023 earnings call, CEO Tim Cook admitted that Apple faced a "challenging" situation in the PC market. "The industry is contracting," said Cook. "We have a low share but we have a competitive advantage with Apple silicon, so strategically we are well positioned within the market. But I think it will be a little rough in the short term," added the Apple chief. Apple unveiled the M2 chip in June 2022, when it appeared in an updated 13-inch MacBook Pro and a new MacBook Air. In January 2023, Apple then added M2 Pro and M2 Max variants to its 14-inch and 16-inch MacBook Pro models, and also added M2 and M2 Pro chips to its Mac mini configuration options. An updated version of the iMac with the M2 chip is seemingly missing from Apple's plans, according to Bloomberg's Mark Gurman, and there is no word on if or when a refreshed version of the Mac Studio with M2 Max and M2 Ultra chips will launch. Plan the trade & trade the plan! 🤑 ⚠️ Trading Tips: AAPL is just $18 below its all time high recorded in Jan 2022 at $182.94. Looking at calls above 167 for a breakout and puts under $162 for rejection next week. 🚨 If you find the info useful, I'd appreciate if you could click on Like 👍, Comment 💬 & Repost 🔄 this article found at the bottom of your screen. Follow me for the latest news, trading ideas & strategies to ride the market daily with profits! 🤑 @CaptainTiger @TigerStars @Daily_Discussion @MillionaireTiger @Tiger_SG