Apple shares (AAPL) were selling at $5.43 a share in 1997, closing Friday at $122.06. The gain on these shares: $18.1 BILLION! Note: AAPL was selling at $127.53 up 5.31, and Microsoft shares were $27.99 down 0.27 while I write this.
By comparison, if Microsoft bought the same amount of its own shares, then selling at $17.67 and closing at $28.25 Friday, the gain would have been ONLY $89.8 million. Note: Microsoft stock has been relatively flat for about seven years.
Do you think Apple Computer was a bad investment for Microsoft? This $150 million in non-voting shares of AAPL made them lots of money — BILLIONS, ended a lawsuit Microsoft was losing (also costing both companies lots of money), and helped get the DOJ off Microsoft’s back in the famous case that they lost as a convicted monopolist! Who helped whom? Your take?