CapitalTime MachineConsumer technology · AAPL
Apple’s 1978 preferred financing and 1979 private common-stock sale can be traced into its 1980 IPO. Early prices and preferred shares require different conversion factors.
Starting price: $9 · Aug–Sep 1978 preferred agreements
32 AAPL share equivalents per starting share at your ending date.
DOCUMENTED PRIVATE PRICE → IPO OFFER PRICE
Hypothetical price-only value of $1,000.00
$78,222.22Aug–Sep 1978 preferred agreements → 1980-12-12
3555.55555556 AAPL share equivalents · ending price $22
78,222 preferred shares converted into 2,503,104 IPO-basis common shares: 32 per preferred share. Later public splits are added by the ending price date.
Formula: amount ÷ $9 × 32 × AAPL ending price.
Apple 1980 registration statement · SEC archive ↗Apple investor FAQ ↗Illustrative paper value; no sale or access to a historical investment is assumed. Excludes fees, taxes, cash dividends, warrants and other distributions; fractional shares assumed. The IPO mark does not assume an executable sale.
Apple’s 1978 preferred financing and 1979 private common-stock sale can be traced into its 1980 IPO. Early prices and preferred shares require different conversion factors.
$703,998$9 per original preferred share
Continental Illinois Venture and Venrock purchased 78,222 preferred shares at $9. Each later represented 32 IPO-basis common shares; the equity statement records 2,503,104 common shares on conversion.
$6,343,501.50 combined consideration$1.3125 per IPO-basis common share
894,864 newly issued shares and 3,938,280 shares sold by existing holders at $1.3125 on the filing’s split-restated basis. The combined $6,343,501.50 was not all company funding.
$22
The original public offer price was $22. Private entry models compare with this price without reapplying splits already reflected in common-share prices.
Two-for-one in 1987, 2000 and 2005; seven-for-one in 2014; four-for-one in 2020. Together these produce 224 shares per IPO share.
Research reviewed 2026-09-24. Selected public records, not a complete private cap table. An undisclosed price is left unknown.
Open this company’s sourced data (JSON) ↗
Apple 1980 registration statement · SEC archive ↗
Part II, Recent Sales of Unregistered Securities, items 7 and 10; statements of shareholders’ equity, 1978–1979; preferred conversion and pre-IPO splits.
Apple investor FAQ ↗
IPO date and $22 offer price; five subsequent stock splits.
Apple announces four-for-one split ↗
July 30, 2020 release: split-adjusted trading begins August 31, 2020.
