MacNN | Disney's Bob Iger buys $1 million in Apple stock

Disney's Bob Iger buys $1 million in Apple stock

Wednesday, November 21, 2012 @ 1:06pm

On Monday Disney CEO Bob Iger bought $1 million in Apple stock, according to a filing with the US Securities and Exchange Commission. The transaction comes just a week after Iger's sale of 1 million shares in Disney, pulling in a net $17.9 million. Iger joined Apple's board of directors in November 2011 as the company tried to fill in the gap left by former CEO Steve Jobs.

Regarding Iger's Disney sell-off, a Disney spokeswoman has previously stated that the executive is "just diversifying his investments and still has a very large portfolio of Disney stock." The extra investment in Apple -- Iger bought $1 million in Apple shares a year ago -- is presumably a part of that diversification. It may also serve as a sign of confidence in Apple, which has otherwise seen its shares slide significantly in the past several weeks.

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