If You Invested $1000 In Apple When iTunes Was Launched 23 Years Ago Today, Here's How Much You'd Have
Portfolio Pulse from Rounak Jain
Apple Inc. (AAPL) launched iTunes 23 years ago, revolutionizing the music industry. The service evolved to sell various media and helped Apple become the largest music vendor in the U.S. by 2008 and globally by 2010. Apple's stock price increased by 60,359% from $0.30692 on Jan. 9, 2001, to $185.56 on Jan. 9, 2024. A $1,000 investment in Apple then would be worth $604,588 today, outperforming similar investments in the Nasdaq and S&P 500 indices. iTunes has since been replaced by Apple Music and other dedicated apps.
January 11, 2024 | 5:42 pm
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POSITIVE IMPACT
Apple's stock has seen a monumental rise since the launch of iTunes, with a $1,000 investment growing to $604,588 over 23 years. The company's evolution from iTunes to Apple Music reflects its adaptability and continued influence in the music industry.
The article highlights the historical success of Apple's stock, which is likely to instill confidence in investors about the company's long-term growth potential. The transformation from iTunes to Apple Music shows Apple's ability to innovate and adapt, which is a positive sign for future growth. However, as this is historical data, the immediate short-term impact on the stock may be limited unless it is part of a broader market trend or investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100