Apple Could Have Purchased Any of 487 S&P 500 Companies -- but CEO Tim Cook Chose to Invest $853 Billion Into This Game-Changing Opportunity
Tim Cook's massive investment has had a decisive impact on Apple's bottom line.
Overview
Although Nvidia is Wall Street's largest publicly traded company, no member of the "Magnificent Seven" paved the way for the stock market quite like Apple (NASDAQ: AAPL). Since current CEO Tim Cook took over for Steve Jobs in August 2011, shares of Apple have soared by more than 2,600%, including dividends.
Throughout much of Cook's nearly 15-year tenure, which is coming to a close when he steps down from the CEO role on Sept. 1 and transitions to executive chairman of Apple's board, the company's physical devices, such as iPhone, have done the heavy lifting. But a significant portion of Apple's outsize returns under Cook can be traced to what's been, in hindsight, a game-changing $853 billion investment.
Apple CEO Tim Cook delivering remarks at the White House. Image source: Official White House Photo by Daniel Torok.
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Originally published at www.fool.com.