Happy Birthday, iPod!
The Apple iPod turned five today. Over 60 million iPods units have been sold since then. Apple shares have gone nine-fold from $9 per share to roughly $80 today. Its annual sales have more than tripled in five years to nearly $14 billion, and last fiscal year it posted a nearly $2 billion profit. Everyone seems to have an iPod. One out of 100 people in the world owns one. Not bad for a pricey unit if you think about it. Will it continue its rise? I’m not sure. It would be hard to repeat or match the 5 year trend. iPod sales will probably stay steady over the next couple of years. But, then again, anything is possible. What a success story!
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Hi Ulysses..
Remember what you say. If Apple shares ever drop down to $9.00 again, no matter how bad things may look at that time, make sure to buy as many as you can.
Both Apple and Steve Jobs are innovators, and in touch with what people want.
Mike,
If only I flopped down 1000 shares at $9 per share then, I would be sitting pretty good right now. Wasted opportunity. There will be others. The question is where.
Ulysses
Hi Ulysses,
Don’t kick yourself, hindsight is always 20/20.
If you’ve been reading my blog then you know my opinion of where the market is headed. The way the market has been taking off, I’m sure everyone thinks I’m crazy, but it’s really what I believe.
If I’m correct, then you will be able to find a BUNCH of deals.
If you don’t want to wait, check out WILC. IMO, this will turn out to be a very good long-term opportunity.
Mike