The Arduous Road Back to Apple
Steve Jobs faced a tumultuous journey at Apple. After co-founding the tech giant in 1976, he was unceremoniously ousted by CEO John Sculley, whom Jobs himself had brought in. It took a timely intervention from Microsoft’s Bill Gates and Jobs’ visionary leadership to restructure Apple and revolutionize its marketing strategy, inspired by Nike.
Apple orchestrated Jobs’ return by acquiring NeXT in 1996, culminating in his appointment as interim CEO in 1997. Since then, Jobs’ influence has transcended time, solidifying his status as a tech luminary.
Apple’s Stock Trajectory Since Steve Jobs’ Homecoming
Upon Jobs being named Apple’s interim CEO on September 16, 1997, the company’s stock, adjusted for splits and other corporate actions, stood at $0.1958 per share. Today, Apple’s stock price has soared to $222.50, marking an astronomical surge of 113,536% over this span.
If you had invested $1,000 in Apple stock on Sept. 16, 1997, that investment would have burgeoned into a staggering $1.14 million today. A comparable investment in the Invesco QQQ ETF would have yielded $10,960, while the SPDR S&P 500 ETF Trust would have amounted to $5,928.
Steve Jobs’ Reappearance and Apple’s Resurrection
The return of Jobs to Apple stands as one of the tech industry’s most remarkable resurgences. He inherited a lackluster product lineup and streamlined it to introduce iconic products like the colorful Macs, iPod, iPhone, and iPad. The iPhone, Apple’s flagship device, not only symbolizes the pinnacle of its product range but also serves as a revenue powerhouse, generating a colossal $200 billion in revenue in 2023 alone – surpassing the earnings of numerous businesses.
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