Fifteen years ago today, Apple Inc. AAPL co-founder Steve Jobs introduced the iPad, marking the start of a device that would forever change how we use technology.
What Happened: On Jan. 27, 2010, Jobs introduced the iPad as a “magical and revolutionary device.”
During the launch, he made a bold prediction about the future of technology, positioning the iPad as a new “third category” of devices between smartphones and laptops.
Jobs pointed out the limitations of netbooks, which were gaining popularity at the time.
“Netbooks aren't better at anything,” he said. “They're slow, they have low-quality displays, and they run clunky old PC software. They're just cheap laptops.”
Jobs went on to explain that the iPad was designed to be far better at tasks like web browsing, email, and entertainment, making it a new category that would stand out from both smartphones and traditional laptops.
Netbooks were once seen as the future of portable computing — smaller, lighter, and cheaper alternatives to traditional laptops. However, their underwhelming processing power, awkward keyboards, and high price tags (often $300–$400) left consumers unimpressed.
The arrival of Apple's iPad in 2010, priced at $500 but offering a vastly superior experience, quickly eclipsed netbooks and reshaped portable computing entirely.
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iPad’s Impact On Apple
iPad quickly proved Jobs' prediction right. It has evolved over the years, adding new features and models, from the iPad Mini to the iPad Pro, with powerful chipsets and high-resolution displays aimed at professional and creative users.
When the iPad first went on sale on April 3, 2010, it sold over 300,000 units in a single day. By the end of 2010, Apple had sold millions. The iPad generated a total revenue of approximately $26.7 billion in fiscal year 2024, based on its performance across four quarters.
In the first quarter, the iPad brought in $7.02 billion, followed by $5.56 billion in the second quarter. The third quarter saw a strong rebound with $7.16 billion in revenue, while the fourth quarter closed out with $6.95 billion.
Apple Stock Since iPad Launch
The iPad launch also had a huge impact on Apple's stock price.
On Jan. 27, 2010, Apple's stock was priced at $7.42 per share (adjusted for splits). Today, it's trading at $222.78, marking a staggering increase of 2,902.73%.
A $1,000 investment on the day of the iPad’s launch would have purchased approximately 134.77 shares. Fast forward 15 years, that investment would now be worth over $30,024.06.
Price Action: Apple stock slipped 0.39% on Friday to close at $222.78, with an additional 0.27% drop in after-hours trading, according to Benzinga Pro data.
Apple has dropped 11.04% year-to-date but posted an impressive 16.19% gain over the past 12 months. The company currently holds a market cap of $3.35 trillion, ranking as the world’s second most valuable company after Nvidia.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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