Apple's shares hit an all-time high today at $264.38 before making an all-time closing high at $262.24. The closing price represented a gain of $9.95 or 3.94%. The stock soared following the release of a report from Counterpoint Research noting that the iPhone 17 series has outsold the iPhone 16 series during the first 10 days of availability by 14%. The iPhone 17 Pro Max has been the big seller in the U.S. In China, the iPhone 17 base model has doubled the unit sales of the iPhone 16 achieved last year.
Apple cuts production of the iPhone Air
Apple has reportedly cut back on production of the iPhone Air. Despite this news, the phone has been more popular than the model it replaced, the iPhone 16 Plus. That's all Apple is really aiming for which has created a low bar for success. Apple has also improved the base model this year by equipping it with the ProMotion display, which includes a variable 1-120Hz refresh rate depending on the content on the display.
A young Steve Jobs and Steve Wozniak during the early days of Apple. | Image credit-Unknown
Apple went public on December 12, 1980 making millionaires of the two Steves, Jobs and Wozniak. The value of their shares at the IPO price was $217 million and $116 million respectively. Others that netted more than a million dollars with the offering included:
Mike Markkula-$203 million.
Mike Scott (Then-CEO)-$95.5 million.
Arthur Rock and Rod Holt also made a huge amount of money thanks to the IPO. It is believed that 300 people instantly made at least a million dollars when Apple went public. The shares were initially priced at $22 and closed at $29 on its first day of trading. Since then, the stock has been split five times, with the last split a 4-for-1 division taking place in 2020. Taking all of the splits into consideration, if you purchased Apple at the time of the IPO and held it throughout the years, you paid 10 cents a share for the stock after accounting for the splits.
What Tim Cook's Apple stake is currently worth
With today's rally, Apple now has a valuation of $3.89 trillion dollars. In case you're wondering, Apple CEO Tim Cook owns approximately 3.28 million shares of the tech giant or .021% of the company. That small stake is worth between $860 million-$900 million.
Do you own any Apple stock?
Yes, and I think it will go higher.
50%
No, I never bought any shares.
50%
The largest Apple stockholder is mutual fund company Vanguard, which owns 9.5% of the company. Investment management firm BlackRock is next with 7.7% of Apple. The largest individual Apple stockholder is its chairman, Arthur D. Levinson, who owns 4.4 million shares valued at $1.1528 billion.
"Iconic Phones" is coming this Fall!
Good news everyone! Over the past year we've been working on an exciting passion project of ours and we're thrilled to announce it will be ready to release in just a few short months.
"Iconic Phones: Revolution at Your Fingertips" is a must-have coffee table book for every tech-head that will bring you on a journey to relive the greatest technological revolution of the 21st century. For more details, simply follow the link below!
Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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