Today in Apple history: Terrible quarter marks the end for Gil Amelio

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Apple losses Gil Amelio
Apple wasn't always a global behemoth.
Image: Ste Smith/Cult of Mac

June 27 June 27, 1997: The last day of yet another disappointing quarter for Apple brings an end to CEO Gil Amelio’s 500 days running the company.

The $56 million quarterly loss contributes to an overall Apple deficit of $1.6 billion during Amelio’s reign: The slump effectively wipes out every cent of profit Cupertino had earned since fiscal 1991. After losing money for six out of the last seven quarters, Apple seems past the point of no return to many observers.

Apple stock is a Must Buy, according to Goldman Sachs

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Apple raked in the cash last quarter.
Apple's untapped financial frontier could be software.
Photo: Jim Merithew/Cult of Mac

I’ll never cease to be amazed by how Apple can announce record-beating quarters and introduce hit product after hit product, only for Wall Street to turn around and channel the old disapproving parental message of, “We’re not angry, just disappointed.”

Fortunately, Goldman Sachs has broken with tradition by issuing a note to clients with its strongest of recommendations that they buy AAPL stock — stamping it with a “conviction buy” rating, based on Apple’s potential for continued growth.

Earskinz Are An Almost Essential Accessory For Your Apple EarPods [Review]

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EarSkinz byEarSkinz
Category: Headphone accessories
Works With:Apple Earbuds and EarPods
Price: $11

When our own Rob LeFevre reviewed the Earskins, he was surprised to find them to be an “essential accessory” for his EarPods. I decided to give them a go too. And guess what? They really are essential: I actually have a spare set, because now I can’t imagine using my EarPods without them.

Apple Stock Continues To Soar, Hits $680 A Share Following Victory Over Samsung

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Apple-stock-680
So predictable.

You’re probably going to see a lot of stories like this in the coming weeks. Apple stock opened at a record $680 a share this morning, on the first day of trading following the Cupertino company’s massive victory over Samsung on Friday. This surpasses its previous record of $674.88 a share, which was hit last Tuesday, August 21, and it pushes Apple’s market capitalization to a new high of $637 billion.

Apple Stock Hits All-Time High As Investors Rush To Get In Early Before iPhone 5

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Watch it go up and up and up.
Watch it go up and up and up.

Apple stock hit an all-time high of $636.64 per share on Thursday, and today that price continues to rise. The last time Apple jumped above $630 a share was back in April, right before its share price began a six-week decline that knocked $115 off the price — and $100 billion off Apple’s market cap — when it ended on May 18.

It’s unlikely we’ll see a repeat of that now, however. According to one analyst, investors are so keen to plough their money into Apple before the iPhone 5 sends share prices rocketing that there’s no sign of those prices dropping anytime soon.

Why Apple Announced Its Stock Dividend & Repurchase Plan

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Tim Cook's making his mark on Apple.

Confirming a press release from just ten minutes earlier, Apple CEO Tim Cook has confirmed that Cupertino will use its vast hoard of cash to initiate a quarterly dividend payment to current shareholders, as well as buy back almost $10 billion in stock to help avoid dilution of employee equity.