Steve's Speech

Tim Byars (
Wed, 14 Oct 1998 13:10:03 -0700

>Steve Jobs' October 14 event took place today in Cupertino, California.
>Jobs said he would
> introduce "an entirely new Macintosh," which turned out to be Mac OS 8.5.
>Meanwhile, Apple's
> stock price has been flirting with the $40 mark today; the stock was on a
>trading hold during Jobs'
> speech.
> Apple's financial statement shows fourth fiscal quarter revenue of $1.56
>billion, with profit of $106
> million, better than expected. Profit for the entire fiscal year totalled
>$309 million. Jobs managed to
> cut Apple inventory from $400 million at the end of the first fiscal
>quarter to $78 million at the end of
> the fiscal year, even beating industry leader Dell in inventory turns for
>the last quarter, according to
> Jobs. Unit sales rose from 635,000 in the first fiscal quarter to 834,000
>in the fourth quarter. In the
> first six weeks, Apple shipped 278,000 iMacs, Jobs said, primarily to
>North America. According to
> Apple statistics, 29 percent of iMac buyers were first-time computer
>buyers, while 12.5 percent were
> Windows PC owners; 58 percent of iMac buyers were existing Mac owners.
> Jobs flattered CompUSA during his speech: "We love working with these
>guys, and the relationship
> has been great from both perspectives." He then announced that Apple
>would add 300 Best Buy
> stores to its sales channels, to begin selling iMacs on November 8. "iMac
>is the perfect computer for
> many of the first-time buyers that Best Buy serves, and we will be
>working closely together to create
> a great buying experience for iMac customers."

Go sell crazy somewhere else, we're full up here. ...Nicholson

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