The iPhone is one of the most recognizable products worldwide and has solidified the dominance of Apple Inc AAPL in the smartphone sector. The revolutionary phone was unveiled by Apple co-founder and former CEO Steve Jobs at a company event in 2007.
Here’s a look at how investors have done in Apple stocks since the legendary product unveiling.
What Happened: Now one of Apple’s most successful product lines, the iPhone was first unveiled by the company on Jan. 9, 2007, at Macworld in San Francisco.
The company said the iPhone combined three products: a mobile phone, a widescreen iPod and internet communications.
“iPhone is a revolutionary and magical product that is literally five years ahead of any other mobile phone,” Jobs said at the time. “We are all born with the ultimate pointing device — our fingers — and iPhone uses them to create the most revolutionary user interface since the mouse.”
It was announced the iPhone would be released in June 2007 in the U.S., in late 2007 in Europe, and in 2008 in Asia. The iPhone was given price tags of $499 and $599 in the U.S.
“Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh,” the company said.
The iPhone was officially released in the U.S. on June 29, 2007, and went on to be one of the most important product releases in Apple's history.
The company revealed the latest version of the popular smartphone in September 2022 with the iPhone 14.
The iPhone 15 is highly anticipated by the company and new rumors link the phone’s unveiling to a Sep. 13, 2023 date with a release to come shortly after.
Related Link: Apple Q3 Sneaks Past Estimates On Services Strength, But Stock Drops As iPhone, iPad Revenues Come In Light
Investing $1,000 in Apple Stock: Shares of Apple traded higher the day after the announcement by Jobs. Apple shares traded for a split-adjusted $3.38 at the open on Jan. 10, 2007.
Apple shares had splits in both 2014 (7-for-1) and 2020 (4-for-1), which impacted the starting price for the calculations.
Based on a starting price of $3.38, a $1,000 investment in Apple stock after the iPhone announcement, an investor could have purchased 295.86 shares of AAPL.
The $1,000 investment would be worth $54,911.62 today, representing a return of 5,391.2% over the past 16 years.
Apple revolutionized the smartphone industry and helped change the history of the company forever with the unveiling of the iPhone.
The company may have also revolutionized some portfolios for Apple investors as well.
Photo: Shutterstock
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