Today, Apple’s stock is worth $287.37 a share and the company is now the second largest in the world, based upon some measurement probably covering assets, stock value, etc.
A pretty amazing recovery because 10 years ago, the whole stupid dot-com frenzy came to a painful, crashing end. I guess enough people finally realized that AOL acquired Time Warner with moon beams (as Allan Sloan said) and all this Web sites had no realistic plan to make money; all the empty real estate around Austin vacated by garden.com and drkoop.com is long gone.
Sadly, Apple was caught in it the resulting panic and the stock got cut in half. I wasn’t worried. My employer had (still does) tangible assets so the long term was on its side. The dot coms had…not much, probably their equipment but their “options” transformed into toilet paper.
A decade later, Steve Jobs and I have been vindicated. Apple’s stock has recovered 23-fold if my eTrade account is accurate. I remember it was pretty stagnate at 20-something after the fallout and remained under 30 for well over a year. This Spring, I bought my remaining option. To my surprise, I had two since there was a split I missed hearing about. That’s how I got my 23 which would also be a 2200% increase in value.