After an impressive performance in 2023, Apple's (AAPL.US) stock price was hit hard this year.

Apple's stock price soared 48% in 2023, far exceeding the 24% increase in the S&P 500 index, and is known as one of the “Big Seven” leading market gains. However, a series of recent negative news and concerns that Apple may lag behind in the field of artificial intelligence caused its stock price to continue to decline. Apple's stock price fell in early February due to service revenue falling short of expectations for the December quarter, despite strong overall earnings.

Furthermore, the company's car project, which had never been officially announced, came to an end at the end of February, further weakening market expectations. In March, the US Department of Justice sued Apple for violating federal law to maintain its dominant position in the mobile phone market, while Apple denied that the iPhone had a monopoly and denied illegal acts.

By Friday's close, Apple's stock price had fallen by more than 15% this year, while the S&P 500 index had risen 4% during the same period. In the past week alone, Apple's stock price has dropped nearly 7%.

Meanwhile, Apple executives are selling off their own shares.

The Zhitong Finance App learned that Apple CEO Tim Cook (Tim Cook) and his four direct subordinates sold shares worth more than 70 million dollars this month. Cook obtained 196,410 shares through the settlement of restricted stock units on April 1, and sold the same amount of shares on the same day and April 2, receiving a total of US$33.3 million, with an average price of US$169.33 per share. Cook sold these shares through a trading plan called 10b5-1, which was adopted on November 28 last year.

The 10b5-1 trading plan is a mechanism for automatically executing transactions. It is triggered when specific conditions such as price, transaction volume, and time are met, and aims to eliminate the possibility of insiders using non-public information to profit.

The company's chief operating officer Jeff Williams sold 59,162 Apple shares through a plan on April 11, receiving a total of US$10.2 million, at an average price of US$172.22 per share. Williams currently owns 489,944 Apple shares.

General Counsel Katherine Adams and Retail Senior Vice President Deirdre O'Brien each obtained 113,309 shares through the settlement of restricted stock units on April 1, and each sold 54,732 shares on April 2, receiving a total of 9.2 million US dollars, with an average price of 168.9 US dollars per share. Adams currently has 293,393 shares, while O'Brien has 136,572 shares.

Chief Financial Officer Luca Maestri sold 53,194 Apple shares through a plan on April 11, receiving a total of $9.3 million, at an average price of $174.12 per share. Maestri currently has 107,788 shares.