In late 1996, Steve Jobs returned to Apple (AAPL) after being ousted as CEO 12 years earlier. He soon became Apple's interim CEO, and immediately terminated a number of non-profitable projects. By wikipedia's account, many employees were in fear of bumping into Jobs in the elevator--'afraid that they might not have a job when the doors opened."
But it was Jobs doing what was necessary to restructure Apple into profitability, which he has done very successfully, and the company has never looked back since. Under Jobs leadership, Apple has become the symbol of innovation and "cool" in consumer gadgets.
Investors responded and Apple stock price has surged accordingly from around $5.21 in December, 1996 to $350.70 as of April 24, 201 (there were two 2-1 stock splits in between). The company ended up surpassing rivals Microsoft and Dell to become the second largest in terms of market cap in S&P 500.
Although Jobs has been granted a medical leave of absence on January 17, 2011, Jobs made a surprise appearance at iPad 2 launch event on March 2, 2011. Jobs and Apple are so interconnected that most of us probably can not envision Apple without Jobs. So, it is probably not a surprise that Tim Cook, COO of Apple who has taken over Jobs' day-to-day responsibilities in Jobs absence, told investors on Wednesday, April 20 that Steve Jobs wants to return to his full-time role at Apple 'as soon as he can.'
While Apple fans around the world eagerly await the release of white iPhone 4, and the first authorized biography--"iSteve: The Book of Jobs", due out in early 2012--by the man some say to be "one of Silicon Valley's leading egomaniacs," we bring you this great infographic on Apple's fall to rise...and rise.
[Source: Online MBA]
EconMatters, April 25, 2011 | Facebook Page | Post Alert | Kindle