Apple Inc. (AAPL) is one of the most well-known technology companies in the world, with a market capitalization of over $2 trillion. The company has been a major player in the technology industry for decades, with its innovative products and services driving strong financial performance. In this article, we will explore the history of Apple’s stock price and how it has evolved over time.
Apple stock price history
Early Days of Apple
Apple was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, with the aim of developing and selling personal computers. The company’s first product was the Apple I, which was released in 1976 and sold for $666.66. However, it was the release of the Apple II in 1977 that put the company on the map, with the computer becoming a huge success and helping to establish Apple as a major player in the technology industry.
Apple’s IPO
In December 1980, Apple went public with an initial public offering (IPO) that raised $97 million. At the time, it was the largest IPO in history for a U.S. company, and it signaled the beginning of a new era for Apple. The stock opened at $22 per share and closed at $29 per share on its first day of trading. By the end of 1980, the stock price had reached $120 per share, giving Apple a market capitalization of over $1 billion.
The Scully Years
In 1983, Steve Jobs recruited John Sculley, then president of Pepsi-Cola, to be Apple’s CEO. Sculley was known for his marketing skills and was tasked with turning Apple into a more consumer-focused company. However, his tenure at Apple was marked by a series of missteps, including the failure of the Apple III computer and the release of the underwhelming Macintosh Portable.
By 1985, tensions between Jobs and Sculley had reached a breaking point, and Jobs was forced out of the company he had co-founded. The news sent Apple’s stock price plummeting, with the stock losing half of its value in just a few months.
The Return of Jobs
In 1997, Apple was struggling. The company had posted losses in four out of the previous seven years, and its market share had dwindled in the face of competition from Microsoft and other PC makers. However, things began to change when Steve Jobs returned to the company as interim CEO.
Under Jobs’ leadership, Apple launched a series of successful products, including the iMac, iPod, iPhone, and iPad. These products helped to fuel a resurgence in Apple’s stock price, which reached new highs in the late 2000s.
The iPhone Era
The release of the iPhone in 2007 marked a turning point for Apple. The smartphone was a massive success, with millions of units sold in the first year alone. The iPhone quickly became Apple’s flagship product, accounting for the majority of the company’s revenue and profit.
As the iPhone grew in popularity, so too did Apple’s stock price. In 2012, the company became the most valuable publicly traded company in history, with a market capitalization of over $620 billion. By the end of 2019, Apple’s stock price had risen to over $290 per share, giving the company a market capitalization of over $1.3 trillion.
Recent Developments
In 2020, the COVID-19 pandemic hit the global economy hard, and Apple was not immune to the effects. The company’s stock price initially fell, as investors worried about the impact of the pandemic on Apple’s sales and supply chain. However, Apple’s strong financial position and loyal customer base helped to mitigate some of these effects.
From Garage to Global: The Evolution of Apple’s Stock Price
Apple Inc. (AAPL) is one of the most valuable companies in the world, with a market capitalization of over $2 trillion. But it wasn’t always that way. In this article, we’ll explore the evolution of Apple’s stock price, from its early days in a garage to its current status as a global tech giant.
The Early Days of Apple
Apple was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne in a garage in Los Altos, California. The company’s first product was the Apple I, a computer kit that sold for $666.66. The Apple I was followed by the Apple II, which was a huge success and helped to establish Apple as a major player in the computer industry.
Apple’s IPO
In December 1980, Apple went public with an initial public offering (IPO) that raised $97 million. The stock opened at $22 per share and closed at $29 per share on its first day of trading. By the end of 1980, the stock price had reached $120 per share, giving Apple a market capitalization of over $1 billion.
The Scully Years
In 1983, Steve Jobs recruited John Sculley, then president of Pepsi-Cola, to be Apple’s CEO. Sculley was known for his marketing skills and was tasked with turning Apple into a more consumer-focused company. However, his tenure at Apple was marked by a series of missteps, including the failure of the Apple III computer and the release of the underwhelming Macintosh Portable.
By 1985, tensions between Jobs and Sculley had reached a breaking point, and Jobs was forced out of the company he had co-founded. The news sent Apple’s stock price plummeting, with the stock losing half of its value in just a few months.
The Dark Ages
After Jobs’ departure, Apple struggled to find its footing. The company launched a series of products that failed to catch on with consumers, including the Newton personal digital assistant and the Macintosh TV. By the mid-1990s, Apple’s market share had dwindled in the face of competition from Microsoft and other PC makers.
The Return of Jobs
In 1997, Apple was struggling. The company had posted losses in four out of the previous seven years, and its market share had dwindled to just 3% of the PC market. However, things began to change when Steve Jobs returned to the company as interim CEO.
Under Jobs’ leadership, Apple launched a series of successful products, including the iMac, iPod, iPhone, and iPad. These products helped to fuel a resurgence in Apple’s stock price, which reached new highs in the late 2000s.
The iPhone Era
The release of the iPhone in 2007 marked a turning point for Apple. The smartphone was a massive success, with millions of units sold in the first year alone. The iPhone quickly became Apple’s flagship product, accounting for the majority of the company’s revenue and profit.
As the iPhone grew in popularity, so too did Apple’s stock price. In 2012, the company became the most valuable publicly traded company in history, with a market capitalization of over $620 billion. By the end of 2019, Apple’s stock price had risen to over $290 per share, giving the company a market capitalization of over $1.3 trillion.
Recent Developments
In 2020, the COVID-19 pandemic hit the global economy hard, and Apple was not immune to the effects. The company’s stock price initially fell, as investors worried about the impact of the pandemic on Apple’s sales and supply chain. However, Apple’s strong financial position and loyal customer base helped to mitigate some of these.