SIDAGTMBTTS: CNBC covers ‘Apple’s rise, Dell’s demise’

Apple Store“The mid 1990s was a tumultuous period for Apple Computer… ts struggles and falling stock price triggered two chief executive changes in as many years. First, it was CEO Michael Spindler who gave way to Gil Amelio in 1996. Then just one year later, Amelio himself was fired, and Apple co-founder Steve Jobs took the helm as interim CEO, with Apple’s stock slumping around 12-year lows, hovering around the $3-$4 range,” Robert Hum reports for CNBC..

Hum reports, “At the time, the outlook for the company was far from encouraging. In fact, shortly after Jobs assumed his duties as interim CEO, rival Michael Dell, CEO of Dell Computer, was asked at an IT conference what he would do to fix Apple Computer. Dell’s response: ‘What would I do? I’d shut it down and give the money back to the shareholders.'”

Hum reports, “How the times have changed…”

Full article here.

MacDailyNews Take: Ah, such a sweet mixture of redemption and schadenfreude.

[Thanks to MacDailyNews Reader “Investor” for the heads up.]

22 Comments

  1. Actually I think Jobs is doing the best thing by not even saying anything. Take the high road and just let your work do the talking for you. Jobs has done a great job with the companies he’s started and of all people I think he knows that today’s result don’t necessarily mean success in the future.

    Great job Apple and I hope this is just the start of more good things to come.

  2. Fun story. Pity it isn’t true.

    The Michael Dell quote comes from a Fortune article in 1996, I believe. The quote was not made when Steve Jobs was at Apple. In the same article, Steve Jobs was quoted as saying, “I’d milk the Macintosh for all it’s worth while looking for ‘the next big thing.'”

  3. How credible is an article that says:

    “Apple’s stock has defied all expectations, approaching all-time high levels once again, largely on the success of its iconic line of iPod music players.”

    Apple’s iPod business is certainly solid, but AAPL’s rise this year is “largely” due to the success of iPhones and Macs, not iPods. But I suppose such reporting only matches the typical investor’s knowledge of Apple. So barring any general economic crisis (like last year), AAPL must still have some good near-term upside potential, as more and more investors “discover” it.

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