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Quote of the Day
“Thank you for coming. We’re going to make some history together today.”
-Steve Jobs, as he stepped on the the stage on this day in 2007 to debut Apple’s newest product – the iPhone
January 9th – This Day in Stock Market History – Apple Unveils the iPhone
January 9th, 2007 – Steve Jobs unveils Apple’s first version of the iPhone.
Wall Street Journal coverage of apple releasing the first iPhone
The product would become available for purchase on June 29th, and would become one of the best selling products in all of history – and propel Apple into the most valuable public company in the world.
Since this day in 2007, Apple stock is up about 1,500% including dividends. The prices in the chart above account for the company’s 7 for share split in 2014.
Last year, Apple had revenue of $265 billion, $166 billion of which was due to the iPhone:
Source: Apple’s 2018 10-k
The iPhone alone is credited as the killer of several entire product lines. Portable music players, stand alone GPS units, and lower end digital cameras.
Prior to Apple’s iPhone release, Nokia, Motorola, and Research in Motion, the maker of Blackberry phone line, held a vast majority of the high end phone market share. Within a few years Apple’s iPhone will have toppled Blackberry’s dominance.
You can watch the first few minutes of Jobs’ presentation of the first iPhone here:
Best January 9th in Dow Jones Industrial Average History
1908 – Up 2.83%, 1.28 points.
Worst January 9th in Dow Jones Industrial Average History
1974 – Down 3.13%, 26.99 points.
Read of the Day
Walter Isaacson published his biography of Steve Jobs shortly after his death in 2011. For anyone looking to learning more about Jobs, and how he created one of history’s most successful companies, it is a great read. Best yet, because it is a few years old now, used copies sell for about $1 on Amazon. Check it out:
Steve Jobs
