Eighteen years ago, on Jan. 9, 2007, Apple Inc. (NASDAQ:AAPL) co-founder Steve Jobs walked onto the stage at the Macworld Conference and changed the world.
What Happened: Steve Jobs began his presentation by building suspense. He teased the audience by saying, “Today, we are introducing three revolutionary products.”
He described them as “a widescreen iPod with touch controls,” “a revolutionary mobile phone,” and a “breakthrough internet communications device.”
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Then, in dramatic fashion, he revealed that these weren't three separate devices but one — the iPhone. “Today, Apple is going to reinvent the phone,” he said.
The original iPhone featured a 3.5-inch display, a 2-megapixel camera, and a multi-touch interface—which was a novel feature at the time. Jobs demonstrated how the iPhone eliminated the need for physical buttons and a stylus, showing off its intuitive design.
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How Much Would a $1,000 Investment in Apple Be Worth Today?
If you had invested $1,000 in Apple stock on Jan. 10, 2007—the day after the iPhone was first announced—your investment would have grown astronomically.
On Jan. 10, 2007, Apple stock was priced at $3.38, adjusted for splits, bonus issues, and other corporate actions. A $1,000 investment would have bought approximately 295.86 shares.
With Apple's current stock price at $242.70, the original investment is now worth: $71,804.
This reflects a total return of 7,080% over 18 years.
The iPhone Effect
The iPhone made its official debut in the U.S. on June 29, 2007. It has not only transformed Apple's fortunes but also changed how we live.
Today, Apple is the most valuable company in the world, with a market cap of $3.668 trillion. iPhones are a key contributor to Apple’s financial success, accounting for roughly half of the company’s overall revenue.
In the fourth quarter, Apple surpassed expectations with $94.9 billion in revenue. iPhone sales reached $46.22 billion, an increase from $43.8 billion in the same period last year.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Apple
