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Other examples Najarian used in his Apple exercise were on energy costs and tuition. Filling your tank for a year in 2002 cost $840 on average, according to the U.S. Energy Information Administration.
“But if you took the bus” as Najarian put it, and purchased 68 shares of Apple ($840/$12.19) instead, you would now own $36,244 worth of the iPhone maker—a nice $35K profit.
Annual board and tuition for a private, non-profit college was $31,000 in 2002, according to the Census Bureau. If you let your child pay his own way and instead bought 2,543 shares of Apple, that stock investment would now be worth $1.36 million today, according to Najarian’s calculations. Tuition now costs $39,000 on average.
Apple shares were volatile Tuesday, a day before it unveils its next generation iPad.
The stock is up 30 percent this year and 500 percent over the last ten years. These gains — as it went from selling the iPod and Macs in 2002 to a halo of sought after personal electronics today — have made it the most valuable company in the world.
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