Apple Inc. — Director's Dealing 2011

May 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: APPLE INC (AAPL)
CIK: 0000320193
Period of Report: 2011-05-02

Reporting Person: WILLIAMS JEFFREY E (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-02	Common Stock	M	2500	$46.57	Acquired	7087	Direct
2011-05-02	Common Stock	S	1474	$346.8112	Disposed	5613	Direct
2011-05-02	Common Stock	S	3100	$347.6871	Disposed	2513	Direct
2011-05-02	Common Stock	S	1200	$348.83	Disposed	1313	Direct
2011-05-02	Common Stock	S	1100	$349.7723	Disposed	213	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-05-02	Employee Stock Option	$46.57	M	2500	Disposed	2012-08-30	Common Stock (2500)	Direct

Footnotes

F1: These transactions were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 19, 2010.

F2: This transaction was executed in multiple trades at prices ranging from $346.15 to $347.08; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.

F3: This transaction was executed in multiple trades at prices ranging from $347.30 to $348.26; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.

F4: This transaction was executed in multiple trades at prices ranging from $348.34 to $349.27; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.

F5: This transaction was executed in multiple trades at prices ranging from $349.35 to $350.00; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or a security holder of the issuer.

F6: This option was granted on August 30, 2005 and vested in 16 quarterly installments over the four-year period after the date of grant.