2024-02-02 05:30:00 ET
Seventeen years have elapsed since Apple (NASDAQ: AAPL) announced the first iPhone on Jan. 9, 2007, a breakthrough product that gave rise to the smartphone industry. The stock has been a phenomenal investment since that momentous event. Specifically, it returned a total of 7,390% over the last 17 years, compounding at 28.7% annually. That means an initial investment of $15,000 in January 2007 would now be worth $1.1 million.
Is Apple still a smart investment today?
Steve Jobs and Steve Wozniak founded Apple in 1976 and the Apple I computer debuted that same year. But it was the Apple II in 1977 that positioned the start-up company as an early leader in personal computers. Apple used that success to tap the public markets in 1980, raising $100 million during its highly anticipated initial public offering . That momentum carried Apple into the Fortune 500 by 1983.
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Here's How Much Apple Stock Gained in Each Year Since the iPhone Launched in 2007