July 18, 1994: Apple launches the Quadra, Performa and LC 630 Macintoshes, three similar computers with slight differences tailored for the professional, home and educational markets.
Buyers can configure the new 630 series of Macs for less than $2,000. Today, the idea of getting a decent multimedia computer for $3,300 (adjusted for inflation) sounds very reasonable, but in 1994 these new Macs looked like a total steal.
July 15, 1998: Apple reports its third profitable quarter after the return of Steve Jobs, continuing the company’s remarkable turnaround.
Apple earns $101 million for the quarter, largely thanks to the success of the Power Mac G3. In the same quarter one year earlier, Apple lost $56 million. This marks the first time in three years that Cupertino managed three straight profitable quarters.
July 14, 1995: The MP3 file format receives its official name as the new .bit file extension gets changed to .mp3. The technology allows compression of a standard CD .wav file to one-tenth its original size, courtesy of some smart algorithms.
The format will revolutionize the music industry — and put Apple on the road to world-conquering dominance.
July 8, 1997: Steve Jobs begins his path to becoming chief executive officer of Apple, after former CEO Gil Amelio departs the company on the back of a massive quarterly loss. Also leaving Apple is Ellen Hancock, executive vice president of technology.
To run Apple’s day-to-day operations, CFO Fred Anderson takes over until a new CEO can be found. Jobs, meanwhile, moves from strategic adviser to take “a more expanded role with Apple’s board and executive management team.” The turnaround has started!
July 6, 1997: Following a massive quarterly loss for Apple, board member Edgar S. Woolard Jr. calls CEO Gil Amelio and informs him that he needs to step down. “You’ve done a lot to help the company, but the sales haven’t rebounded,” Woolard says.
Steve Jobs denies being responsible for Amelio’s ouster. However, the move results in him becoming Apple CEO for the first time. Now it’s time for a real turnaround!
June 28, 1993: Apple ships the Macintosh LC 520, an “all-in-one” Mac targeted primarily at the education market.
The first Macintosh ever shipped with a non-optional 2x CD-ROM drive, it is designed to capitalize on schools’ growing multimedia requirements.
June 27, 1997: The last day of another disappointing quarter brings an end to CEO Gil Amelio’s 500 days running Apple.
The $56 million quarterly loss contributes to an overall deficit of $1.6 billion during Amelio’s reign. The slump effectively wipes out every cent of profit Cupertino earned since fiscal 1991. After losing money for six out of the last seven quarters, Apple seems past the point of no return.
June 20, 1994: Apple launches eWorld, a subscription service for Mac owners that’s designed to compete with America Online and other nascent online properties.
Part messaging service and part news aggregator, Apple envisions eWorld competing with the likes of AOL, Delphi, CompuServe and Prodigy. Unfortunately, Apple’s online service is doomed from the start.
June 19, 1995: Apple releases the Power Macintosh 9500, a high-end Mac that boasts a second-generation PowerPC chip that’s much faster than its predecessor.
The Power Mac 9500 is also significant for coming with six Peripheral Component Interconnect, or PCI, slots. They allow owners to attach hardware using the Intel-developed industry standard connection. Along with seven bays for internal drives and a swappable daughterboard, this makes the 9500 the most expandable Power Mac ever produced.
June 18, 1993: John Sculley steps down as CEO after a 10-year run at Apple.
Sculley is asked to leave by the Apple board after AAPL shares collapse from a high of $4.33 in 1992 to 73 cents the following year. He hands over the CEO role to Michael Spindler before briefly taking the role of Apple chairman, prior to departing altogether.
