JANUARY 9

On this date in 2007, Steve Jobs introduced the first iPhone to the world.  It was released for sale to the public the following June 29th.  The late Steve Jobs was a founder of Apple, Inc. which was established in 1976.

The first iPhones were available with either 2 or 4 GB of memory.  The iPhone 7, which is sold now,  comes standard with 32 GB and is available with 128 or 256 GB.   Expect the next upgrade to come in the first quarter of 2018.

In fy 2005-2006, Apple had net income just under $2 billion.  In fy 2014-2015, Apple had net income of over $45 billion and total assets over $320 billion.   The increase was not totally due to the iPhone but it had major effect.

Apple stock was sold on the NASDAQ exchange in 1981 for about $.50 per share.  At the beginning of 2007, it was selling for about $12 per share.  Today, it is going for about $117 per share and has recently been over $132.  Did any of you buy any shares at 50 cents?

Could any product have been more profitable - ever?   Just 10 years ago today!!!
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