Technology giant Apple Inc AAPL has had several CEOs leading the company over the years, including co-founder Steve Jobs heading the company through a period of innovative products like the iPod, iPhone and iPad. With big shoes to fill, Tim Cook took over for Jobs in 2011. Here’s a look at how the stock has since performed.
What Happened: Jobs led Apple from 1997 to 2011 and helped push the company into new territory with a focus on new products and innovation. Jobs announced in August 2011 that he was stepping down as the Apple CEO. Jobs was replaced by Apple Chief Operating Officer Tim Cook. Jobs recommended the Board of Directors to select Cook for the role.
Jobs would die two months later in October 2011 from complications related to pancreatic cancer. Jobs left behind an iconic legacy and is widely believed to be one of the most innovative CEOs of all time.
With former experience at IBM and Compaq along with being the Chief Operating Officer of Apple prior to becoming CEO, Cook brought new leadership to the role. While some investors and analysts were skeptical of Cook taking the post, he pushed the company forward to become the first public company valued at $2 trillion.
Cook has been the CEO of Apple since August 2011 and has turned in one of the best-performing stock returns over the same time period.
Related Link: 5 Things You Might Not Know About Apple CEO Tim Cook
Investing $1,000 in Apple Stock: Apple shares traded at $373.52 on Aug. 23, 2011, Jobs’ last day leading the company.
A $1,000 investment at the time of Cook taking over could have purchased 2.68 shares of Apple.
Apple shares split 7-to-1 on June 9, 2014, turning the investment into 18.76 shares. Apple shares split 4-to-1 in August 2020 turning the investment into 75.04 shares.
The $1,000 investment would now be worth $11,091.66 today, based on a share price of $147.81 at the time of writing. This figure does not take into account any dividends paid over the years as well.
A $1,000 investment in Apple when Cook took over would be up 1,009.2% over the last 11 years and 3 months. This represents an average annual return of 89.7% for investors who bet on Cook as the new CEO.
Photo: Courtesy of ACC District on flickr
Image and article originally from www.benzinga.com. Read the original article here.