TECH - If You Invested $1000 In Apple When It Announced NeXT Acquisition To Bring Back Steve Jobs Here's How Much You'd Have | Benzinga
Apple announced its intention to acquire NeXT and bring back Steve Jobs 27 years ago.
If you had invested $1,000 in the company back then, here's how much your investment would be worth.
Apple is the largest company in the world by market capitalization, but at one point, it was on the brink of bankruptcy. Thankfully for the company and its investors, the tech giant decided to acquire NeXT and bring back its legendary co-founder Steve Jobs in 1996.
Apple Inc. (NASDAQ:AAPL) announced its intention to acquire Jobs' NeXT in a deal that included $429 million cash and 1.5 million shares of the Apple stock.
While Jobs was not appointed as Apple CEO immediately, it was the first time since his ouster in 1985 that one of the most iconic tech titans of the world would return to the management of the iPhone maker.
Apple's intention to acquire NeXT and bring Jobs back to the company he co-founded – he was ousted by John Sculley 11 years ago in 1985. However, Sculley's vision for the company dragged it down and its struggles continued to mount each passing year.
On the other ...