After the passing of super-CEO Steve Jobs, it is fitting to take a look at what this level of success looks like from an investment perspective. In a word: SPECTACULAR! If you had purchased Apple shares 8 years ago when they were trading at around $10 a share, you would be sitting on a profit of around 3700% with an annual return on investment of around 462%. All profit margins are "mean reverting" in that such money making attracts competition, which then erodes margins. But Apple has maintained a remarkable edge much longer than anyone could have imaged.
As I write this on my new Mac Book Air, it is easy to see why!