In an upcoming book by President Obama’s chief campaign advisor David Axelrod a private meeting between Steve Jobs and Obama that took place back in 2007 has been described. At the time Obama was not the president. Axelrod recounts in his book, Believer: My Forty Years in Politics, how the two met back in 2007 and Jobs gave Obama a “sneak peek” at his company’s latest product. It was the original iPhone and Obama got to see it before the rest of the world.
Apparently Obama was very impressed with what the folks at Apple had come up with. No one will doubt him now given that the iPhone has made Apple the only company in the entire world that has posted a net profit of $18 billion in a single quarter.
The book quotes Obama saying that “If it were legal, I would buy a boatload of Apple stock. This thing is going to be really big.”
The president was certainly right on that count. In 2007 Apple’s shares were trading at a split-adjusted value of $12-$14 per share. If he had picked up a few back then, had it been legal, the return would have been astronomical.
Apple’s iPhone is undoubtedly the most recognizable smartphone on the planet now. People yearn for it, and then they go out and buy it, no wonder it is one of the biggest drivers of revenue for the company.
Jobs showed it to Obama before the world got to see it. He liked it. And the rest, as they say, is history.