September 26, 1997: In one of his first jobs after returning to Apple as an intermediate CEO, Steve Jobs reported a significant loss of $ 161 million quarterly.
Giving bad news to investors is miserable, but for Apple, things change dramatically.
Apple's loss does not seem to be that bad.
On the other hand, Jobs did not cause Apple's biggest loss. The pedigree as a result of the prize comes from the decision of Mr. Gill Amelio who is the predecessor of Gills. During Apple 's 500 – day Amelio rule, the company lost $ 1.6 billion. As a result of this, all the benefits Cupertino has made since the fiscal year 1991 have been substantially eliminated.
On July 7th, I lost my position as an Apple manager. Clearly while seeking a replacement, Jobs took over the management of the company.
More importantly, the loss actually reflects some good things from Apple. The loss of $ 161 million included amortization of $ 75 million due to Apple's purchase of Mac OS license from Power Computing. This told the end of the misery of the "Mac clone".
Improve Apple's results Mac OS 8
Apple also supports recent releases of Mac OS 8. Mac OS 8 sold 1.2 million copies in the first two weeks. This showed the most successful commercial performance for Apple software at the time.
Mac OS 8 was not enough to return Cupertino to profit, but it surpassed many expectations. He also demonstrated that Apple still enjoys a large and supportive fan base.
Apple's Chief Financial Officer (CFO) Fred Anderson said, "Unfortunately there are no quarterly results." "The goal of 1998 is to combine additional spending reductions and improved gross margin to continue to lower Apple's breakeven point."
As Apple's current "not promised, offering" strategy, the forecast was too cautious. The company remained very strong the following year.
Apple's big move begins
It seemed a bit ridiculous in Apple's biggest loss in the year when it was recorded, but in 1998 it became the beginning of a turnaround. The company released the iMac G3 in that year and returned to profitability in the next quarter. And Apple has not slowed since then.
But before that, Apple had to redo …
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