Nasdaq 100's Remarkable Performance Attributed to Steve Jobs' Influence

Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, posted on X. The Nasdaq 100 index has significantly outperformed the S&P 500 since the launch of the QQQ ETF in 1999, doubling its returns and surpassing the performance of every active fund manager. The key to its success, according to Balchunas, can be traced back to two words: Steve Jobs. In 1980, Steve Jobs made the pivotal decision to list Apple on the Nasdaq, which was then considered an upstart third-place exchange. This move positioned Nasdaq as the hub for tech visionaries, attracting top U.S. innovators. Jobs' influence was further solidified during his comeback in the 2000s, enhancing Nasdaq's reputation as the go-to exchange for leading tech companies. Balchunas compares this strategic move to Michael Jordan's choice of Nike over Adidas and Converse in 1983, which subsequently attracted top athletes to the brand. Balchunas expressed interest in creating a documentary about this transformative period and is seeking the individual who took Jobs' call in 1980 to discuss Apple's listing on Nasdaq.