The Nasdaq MarketSite, paid tribute to Steve Jobs. The company he founded is Nasdaq’s most valued company. It makes up 20% of the index. In other words, which ever way Apple trades, so does the market, most times. Apple’s stock has become a must own stock, every portfolio and hedge fund manager owns it. Because it is so widely owned, it has become one of the most active stock on the Nasdaq, hence it is a very valuable client for the exchange.
Apple has created staggering wealth for investors since Jobs returned as CEO in 1997. The stock is up approximately 10,000% since then. Its market value has risen from just $2 billion in 1997 to over $375 billion (today), making it the most valuable company in the world. Apple is now worth more than Microsoft Corp., Hewlett-Packard Co., DirecTV, Dell Inc. and Nokia Corp combined.
After adjusting for stock splits, an investor who paid $2,200 to buy 100 shares of Apple at its IPO price of $22 in December 1980 today would have 800 shares worth a total of $302,600.
At the time of its IPO, Apple valued at more than $1 billion and was the biggest new-stock deal at the time since Ford Motor Co.’s offering in 1956. Little did anyone know at the time, that the company would go on to dwarf every company in the world and that Steve Jobs would eclipse Edison, Ford, Rockerfeller, Carnegie and Sam Walton.
Image from RoscoeLabs
Channels: Apple, nasdaq, Steve Jobs