4 ms·
You fail to mention that Apple had a net loss of $816 million in 1996 and in 1997 it even went further down into the red. I wonder if you can back up the 'a fe
by prs 17y ago
You fail to mention that Apple had a net loss of $816 million in 1996 and in 1997 it even went further down into the red.
I wonder if you can back up the 'a few billion in cash' statement with a source?
- astrodust 17y agoThis still does not contradict the earlier statement. Apple had $1.2 billion in cash in reserve. Presuming they were going to continue losing $800M a year, an investment of $150M does not "save" the company by any means. It only buys a tiny bit of time. Keep in mind that competitors such as Compaq were losing far more money in the same period. Apple was having a bad year, but other companies were going under. The press at the time kept reporting how Apple was on the verge of bankruptcy, which was never true, while completely ignoring how the entire industry was in a state of severe turmoil. The real purpose of the Microsoft investment was to solidify their commitment to producing Microsoft Office for Mac, something which was far from certain at the time even though it was reported Microsoft was pulling in $400M in annual revenue from that business unit.
- tzs 17y agoSorry. It was only a billion and change. http://news.cnet.com/2100-1001-202143.html http://news.cnet.com/2100-1001-202143.html edit: see also their SEC filings: http://xml.10kwizard.com/cgi/convert/pdf/APPLEINC10K.pdf?repo=tenk&ipage=490885&xml=1&num=-1&pdf=1&quest=1&rid=12&dn=1 http://xml.10kwizard.com/cgi/convert/pdf/APPLEINC10K.pdf?rep...