Saying it has a future, Apple puts its past on the podium
Article Abstract:
Apple is using its Macintosh trade show in San Francisco, during the week of Jan 6, 1997, to reveal the details of its 18-month plan to develop a new OS based on its $400 million acquisition of Next Software Inc. Rhapsody, Apple's proposed operating system, will run programs designed for the Next OS as well as current Macintosh applications and programs written for Sun Microsystems' Java programming language. While Apple customers will be able to continue using existing data and programs, Macintosh programs will be unable to benefit from the new features provided by Next's technology. Apple's initial challenge is to convince its customers that Rhapsody will succeed, unlike the more than six other OS it has attempted to complete in recent years. Steven Jobs, founder of Apple and Next Software, cites Apple's ability to attract software developers to write innovative programs as paramount to the success of the project.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1997
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General Magic's shares soar on first day
Article Abstract:
General Magic Inc's stock almost doubled from its opening offering price of $14 in its first day of trading on the Nasdaq market. The software developer says it sold 5.5 million common shares at $14 per share in an initial public offering the company says exceeded its original plans. Expecting to sell around four million shares at $13, the company expanded its offering and raised the price because of the strong demand. Shares rose as high as $32 per share on the first day of market trading, finishing at $26.625. Experts claim it is rare for an issue to double during its first day. The volume of General Magic shares was at 6.8 million, indicating many of those who purchased shares may not be interested in being long-term stock holders. The enthusiastic response from Wall Street may be an indication of a changing perception of consumer technology among investors.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1995
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Apple is hoping its founder can rediscover his old magic
Article Abstract:
Apple is banking on the acquistion of Next Software and the return of co-founder Stephen P. Jobs to turn around the company's fortunes. Jobs, who started Next Software after leaving Apple in a bitter power struggle in 1985, is returning to the company officially as an adviser to the chairman. Jobs and Apple CEO Gilbert F. Amelio seemed excited about the Next deal in the official press conference, but Jobs remains apprehensive about the business climate of Apple. He has said he does not wish to lead the company, but will focus his efforts on revamping the Macintosh operating system with Next technology. Others question whether Jobs will be able to work his magic with Apple, a company that has shown stagnant profits and technical work in Amelio's regime, in the personal computer market, which is less volatile now than in the 1980s.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1996
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