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August 22, 1988

APPLE’S JOHN SCULLEY SELLSMOST OF HIS 159,357 SHARES IN THE COMPANY

By CBR Staff Writer

Anybody with a large holding in his own company’s shares is nuts if he doesn’t periodically sell some of them, and diversify his portfolio, regardless of how well the company is doing, but executive sales are always treated by the market as bearish news, and the fact that Apple Computer Inc’s John Sculley is in process of selling most of his 159,357 shares in the company sliced $1.75 off the share price, which closed at $40.75 Friday: the sale sounds dramatic, but is not, since he also holds options on another 767,000 shares at $7.75; if he wants to exercise some of those options, he will likely have to sell some of his existing Apple shares so as to raise the readies.

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