This idea “came from a long-term investor who bought Apple for $1 a share (split adjusted) in May 1998 and has watched it double many times over,” Philip Elmer-DeWitt reports for Fortune.
“The first doubling was the hardest,” P.E.D. reports. “Getting from $1 to $2 took Apple more than six years, from 1998 to 2004.”
“Since then, Apple’s share price has doubled on average every 22.6 months—and that includes the massive sell-offs of 2008 and 2012 when the stock doubled, fell back sharply, and then recovered,” P.E.D. reports. “Past performance is no guarantee of future results, of course. If it were, you might expect Apple to clear $128 by October 2016 and reach $256 two or three years later.”
Read more in the full article here.
MacDailyNews Take: Past performance is no guarantee of future results, indeed.
[Thanks to MacDailyNews Reader “Arline M.” for the heads up.]