Excerpts: 20 years ago today, people thought Apple

  • “Back in late 1995 early ’96, when we were at our peak, we were literally hours away from buying Apple for about $5 to $6 a share,” former Sun President Ed Zander would later recall in 2011.
  • In 1993, Apple missed guidance on its quarterly earnings. That was enough for Apple’s board to fire Sculley and install early Apple employee Michael Spindler.
  • Things were so bad that the board eventually assigned Spindler the task of finding a buyer for the company.
  • And so, Spindler talked to Sun Microsystems, the manufacturer of high-end computer workstations and servers, about an acquisition in early 1996.
  • It didn’t work, and the deal fell apart. So did Spindler’s acquisition talks with IBM and Philips.
  • Amelio would go on to buy Steve Jobs’ startup NeXT Computer for $429 million, bringing the Apple cofounder back into the fold — which would backfire on him, when Jobs convinced Apple’s board to oust Amelio in early 1997.

Source: BusinessInsider