In 1997, Apple Stock Hit a 12-Year Low that Was At Least Partially Caused By a Single Sale of 1.5 Million Shares ($22.5 Million) By an Anonymous Party. This Helped Jobs Convince the Board to Oust the Old CEO and Appoint Jobs As the Replacement. Jobs Later Admitted to Being the Anonymous Party

Wikipedia notes:

During [former Apple CEO] Amelio’s tenure Apple’s stock continued to slump and hit a 12-year low in Q2 1997 that was at least partially caused by a single sale of 1.5 million shares of Apple stock on June 26 by an anonymous party who was later confirmed to be Steve Jobs. Apple lost another $708 million. On the July 4, 1997 weekend, Jobs convinced the directors to oust Amelio in a boardroom coup ….

The San Francisco Chronicle reported in 1997:

Steve Jobs has confirmed that he sold 1.5 million Apple shares in June …

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  • Joel W

    Piece o trash

    • kimyo

      if you had to pin 1984 on a single human being, it would be steve jobs.

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      • Joel W

        I think I can agree with you there.

  • It was a boardroom coup that had to happen, Apple under Amelio was going nowhere fast. It would have gone under without Steve Jobs.

    • kimyo

      which, as far as humanity is concerned, would have been a huge plus.

      that many fewer toys for the self-absorbed, built by slaves, a win for society, yes?

      couldn’t jobs at least have designed phones with replaceable batteries? a micro-sd slot? (does it really make sense to have to delete pictures in order to take pictures?)

      couldn’t jobs, at the very least, have programmed in a pop-up saying, ‘yo, bro, rotate your phone when shooting video!’? movies are wide/aren’t tall for a proper reason.

  • Nexusfast123

    Firstly, Apple is on an innovation downhill slope. Companies are generally founded around a single set of ‘pivotal’ technologies. Once they have extracted the innovation benefit they then start to iterate existing products and target niche markets – cheaper versions for instance.

    Secondly, we have probably hit peak smart phone where the consumer is more inclined to keep a phone longer and rivals are delivering cheaper and on par functionality. Without a new set of pivotal technologies Apple will continue to decline and it will be interesting to see what they do with the $200Billion in cash they have.

    These are issues that Jobs may not have had an answer for either.