Today in Apple history: Rumors fly that Canon might buy Apple

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Apple was up for sale in the 1990s.
Photo: Ste Smith/Cult of Mac

April 21 April 21, 1995: Rumors swirl that Canon (yes, the Japanese camera company!) might take over Apple in either a partial or complete acquisition.

Speculation grows about a possible deal after Apple reveals its latest earnings, which show big improvement but still fall far short of Wall Street’s expectations.

Today in Apple history: Apple racks up staggering $700 million loss

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In 1996, Apple's worst quarter yet sees the company lose $700 million.
Image: Ste Smith/Cult of Mac

March28 March 28, 1996: In a dire message to Wall Street, Apple warns that it will report a $700 million after-tax loss for its most recent quarter.

Apple’s biggest quarterly loss in history, the shocking news reveals a company in far more financial trouble than previously thought. More than half the loss comes from $1 billion of unsold products.

Today in Apple history: Gil Amelio takes over as CEO

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Gil Amelio was viewed as the man to save Apple.
Photo: Apple

Feb2February 2, 1996: Apple announces that Gil Amelio is taking over from Michael “Diesel” Spindler as Apple CEO.

With disappointing Mac sales, the disastrous “clone Mac” strategy and a failed Sun Microsystems merger to his name, Spindler is asked to resign by the Apple board. Supposed turnaround artist Gil Amelio is given the job instead.

Unfortunately, he turns out to be no better.

Today in Apple history: The seeds of OS X are sown

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Look familiar?
Photo: The Color Convergence

Nov25November 25, 1996: Garrett L. Rice, a mid-level manager at NeXT, contacts Apple chief technology officer Ellen Hancock about the possibility of Apple licensing NeXT’s OpenStep operating system.

It’s the first formal step in a process that ultimately ends in Apple buying NeXT, the creation of OS X, and Steve Jobs returning home to the company he co-founded.

Today in Apple history: Gil Amelio joins Apple’s board

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Gil Amelio was viewed as a big coup for the Apple board.
Photo: Apple

Nov9November 9, 1994: Future CEO Gil Amelio joins Apple’s board on the basis of his reputation as a turnaround artist.

Coming off his impressive turnaround of National Semiconductor and Rockwell International, his appointment at Apple is celebrated

Sadly, the feat won’t be repeated in Cupertino.

Today in Apple history: The end of Apple’s worst ever financial quarter

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Yep, Apple wasn't always a global behemoth.
Photo: Ste Smith/Cult of Mac

Monday 27 27 June 1997 marked the last day in the worst financial quarter in Apple history, in which Apple lost $56 million — effectively bringing an end to then-CEO Gil Amelio’s 500 days running the company.

The $56 million loss contributed to an overall Apple loss of $1.6 billion during Amelio’s reign: effectively wiping out every cent of profit Cupertino had earned since fiscal 1991. In other words — ouch!