19 years ago, on Sept. 7, legendary Apple Inc.'s AAPL co-founder and former CEO Steve Jobs made a move that would revolutionize the music industry and set Cupertino on a path to becoming the tech giant it is today.
He unveiled the iPod Nano - a sleek, compact music player that captured the imagination of consumers and investors alike. The product was launched four years after the original iPod.
But what if, instead of rushing to buy the latest gadget, you had invested in Apple stock? Let's crunch the numbers and see how that $1000 would have fared.
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First, let's take a look at the iPod Nano's journey:
The iPod Nano debuted as a replacement for the iPod Mini. It was notable for its flash storage, which made it smaller and more durable than its predecessors. Available in 2GB and 4GB models, it could hold up to 500 and 1,000 songs, respectively, and weighed 1.5 ounces.
The launch was famously presented by Jobs, who referred to the tiny watch pocket in his jeans and asked, "Ever wonder what this pocket is for?" He then showed the device.
In a press release shared by Apple, Jobs said, "iPod nano is the biggest revolution since the original iPod," adding, "iPod nano is a full-featured iPod in an impossibly small size, and it's going to change the rules for the entire portable music market."
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On July 27, 2017, in a low-key move without much fanfare, Apple quietly phased out these two iconic iPods from their product range -- the iPod Nano and iPod Shuffle.
The iPod Nano was available for nearly 12 years and underwent seven distinct redesigns during its lifespan.
Its design evolved significantly over the years, with various iterations showcasing a range of colors, an integrated video camera, and a clip that appeared one year and was removed the next.
The design also shifted from tall and slim one year to short and compact the following year.
That being said, here's what your $1,000 investment in Apple stock would have turned into at the time of the iPod Nano's launch:
Apple's stock, adjusted for stock splits and other corporate actions, was $1.7385 on Sept. 7, 2005.
Its stock price today is $220.82, which is an increase of 12,601% during this period.
If you had invested $1,000 in Apple stock on Sept. 7, 2005, today, you would have $120,017.
Likewise, if you had invested $1,000 in Invesco QQQ ETF, you would have $1,170.
A similar $1,000 investment in an index fund that replicates the S&P 500 would be worth $4,361.
What Happened To iPods
In 2022, over two decades after the launch of the original iPod, Apple officially ended production of its legendary portable music player line.
It was the end of the iPod Touch, which was the sole remaining model in the iPod lineup, after the discontinuation of the iPod Shuffle and iPod Nano.
It may appear trivial today, but during its peak, the iPod was a major contributor to Apple's revenue, often surpassing 50 million units sold each year.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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