“On December 12, 1980, Apple launched its IPO (initial public offering) of its stock, selling 4.6 million shares at $22 per share with the stock symbol ‘AAPL’ on the NASDAQ market,” Suzanne Deffree reports for EDN.
“The shares sold out almost immediately and the IPO generated more capital than any IPO since Ford Motor Company in 1956,” Deffree reports. “Instantly, about 300 millionaires, some 40 of which are Apple employees and investors, are created. That is more millionaires than any company in history had produced at that time. Steve Jobs, the largest shareholder, made $217 million dollars alone.”
“By the end of the day, the stock had increased in value by almost 32% to close at $29, leaving the company with a market value of $1.778 billion,” Deffree reports. “As of December 12, 2013, Apple stock was trading in the $562 range [with a market value of $504.34 billion].”
Read more in the full article here.
Run, Forest, Run!
Steve Jobs was a genius period, he built the business side of Apple that Woz would have given away kindly
I bought as soon as Steve came back. Wasn’t as good as investing in 1980, but it’s been profitable. Wish I’d had more to invest at the time.
I recall my Stockbroker begging me NOT to put money into Apple, thought I was crazy. I told him Steve is back, just shut up and buy the shares, and if you’re smart you’ll buy them too. I didn’t keep him long, hope he thinks of me now and then. These days, thankfully I can just do my own investing choices on line. Wasn’t so easy back then. I’ve only panicked and sold twice. The last absence before Steve made his final absence I worried Apple would tank, and then lately when it went to $400 and I couldn’t afford to lose more than that (I don’t have a huge amount in it so couldn’t afford to lose much more and had to play it safe. Didn’t lose much when I reinvested. But otherwise I’ve weathered a lot of ups and minor downs.