Apple 2.0

Covering the business that Steve Jobs built

Disney's CEO buys $1M of Apple, leaves $40K on table

November 21, 2012: 3:59 PM ET

Bob Iger bought 1,780 shares at the last hour Monday. He shouldn't have waited.

Iger

FORTUNE -- "Talk about timing," writes reader Jim Neal, who spotted an SEC Form 4 filed Tuesday by Disney (DIS) CEO -- and Apple (AAPL) board member -- Bob Iger.

Iger, who exercised 1 million Disney options last week netting nearly $18 million, bought $1 million worth of Apple in the last hour of trading Monday.

The timing issue is that Apple soared more than $35 that day -- its second-largest-ever one-day dollar gain.

"Had he bought at the open he would already have made a killing," notes Neal. "As it is, he probably still bought at a pretty good price."

To be precise, Iger paid an average of $563.35 for 1,780 shares of a stock that opened that morning at $540.71, a difference of $40,306.

He got a better deal last November, shortly after joining Apple's board, when he bought $1 million worth of Apple for about $375 a share.

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Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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