© Reuters. Here’s How Much You’d Have Right Now If You Invested $1,000 In Apple Shares When Steve Jobs Stepped Down As CEO In 2011
Investors who placed their cash into major U.S. indices have enjoyed respectable returns since summer 2011. The SPDR S&P 500 ETF (NASDAQ: SPY (NYSE:)), Invesco QQQ Trust Series 1 (NASDAQ: QQQ) and SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: NYSE:) have returned 227.15%, 444.89% and 173.74% respectively.
As good as investors in the major U.S. indices have had it since 2011, investors in the broader consumer electronics, software and online services sector have done even better. For historic returns on investment since 2011, look no further than Apple Inc (NASDAQ: NASDAQ:) and the storied impact late CEO Steve Jobs had on the consumer tech industry.
On Aug. 25, 2011, Apple’s Board of Directors announced that Jobs had resigned as CEO. The board named Tim Cook, previously Apple’s Chief Operating Officer, as the company’s new CEO. Jobs was elected Chairman of the Board and Cook joined the Board, the moves were made effective immediately. Jobs died shortly thereafter in Oct. 5, 2011 at the age of 56 of pancreatic cancer.
Returns on Apple since 2011: Following the resignation of Jobs here’s how much $1,000 in Apple stock invested in August 2011, at the then split-adjusted share price of $13.36 would be worth today: $11,814.40 for a return of 1,084.44%.
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