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of apple ipad Launched on January 27, 2010, the iPad was the butt of jokes before becoming a category-defining product.
Apple. (NASDAQ:AAPL) Co-founder and then-CEO Steve Jobs He introduced the iPad as a “magical, revolutionary device” that lets you browse the web, send and receive email, read books, and play games.
“Magic” device
“iPad is our cutting-edge technology, a magical, revolutionary device at an incredible price,” Jobs said, adding that it would create “an entirely new category of devices.”
Over the next 15 years, Jobs was proven right and Apple took advantage of its first-mover advantage. According to Statcounter data, one out of every two tablets in use around the world is an iPad.
Apple first launched the iPad on April 3, 2010, and ultimately sold over 300,000 units in just one day.
Jobs announced the iPad 2 in March 2011 and revealed that Apple sold 15 million iPads in the first nine months of its release.
Since then, Apple has launched 10 generations of iPad and announced Mini, Air, and Pro versions apart from the standard version.
SEE ALSO: If you invested $1,000 in Apple when the Macintosh was introduced 40 years ago, here’s how much you’d get today.
The iPad isn’t Apple’s first tablet
Fun fact: Did you know that the iPad wasn’t Apple’s first tablet? John Scully’s In a show of leadership, Apple launched a tablet-like device called the . newton message pad.
“What we want to do is take an incredibly good computer and put it into a book that you can take with you and learn how to use in 20 minutes,” Apple co-founder Steve Jobs said in a 1983 speech. .
However, the Newton MessagePad was unpopular and was discontinued by Jobs.
Take a look at how Apple stock has fared since the company launched the iPad 14 years ago.
Apple stock price from January 27, 2010 to today
Apple’s stock price, adjusted for stock splits and other corporate activities, was $7.4243 on January 27, 2010.
The current stock price is $194.17, an increase of 2,515% during this period.
$1,000 each invested in Apple stock, the Nasdaq index, and the S&P 500 index from January 27, 2010 to today.
If you invested $1,000 in Apple stock on January 27, 2010, you would have $26,153 today.
Similarly, if you invested $1,000 in an index fund that mimics the Nasdaq, you would earn $6,982.
A similar $1,000 investment in an index fund that replicates the S&P 500 would be worth $4,459.
multi-billion dollar business
Since the launch of the iPad in 2010, Apple has launched several other products such as the Apple Watch, AirPods, and most recently the Vision Pro.
Apple’s iPad alone generated more than $28 billion in sales for the company in FY23, accounting for 7.4% of the company’s sales.
Since then, Apple has expanded the use case for iPad from a simple reading and entertainment device to something that creators can also use. iPad Pro models are tailored for productivity and creativity, with large, high-resolution displays and powerful M-Series chipsets.
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Read next: Google launches its first smartphone 13 years ago today: How much is that $1,000 investment worth now?
Photo credit: Wikimedia Commons
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This article shows you how much you would earn today if you invested $1000 in Apple when the iPad was released 14 years ago.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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