March 20, 1996

Jobs Has a Prescription for Apple

By Reuters
PALO ALTO, Calif., March 19 (Reuters) -- Steve Jobs, the co-founder and former chief executive of Apple Computer Inc., says the company can use its skills at innovation to stage a turnaround and pull its business out of the red.

His comments are in the first installment of a two-part series in Rolling Stone magazine entitled "The Rise and Fall of Apple Inc." The issue containing the article appeared on newsstands on Tuesday.

"Apple didn't fail," Mr. Jobs, who founded the company with Steve Wozniak in the late 1970's, told Rolling Stone. "The trouble with Apple is it succeeded beyond its wildest dream. The rest of the world became just like it. The trouble is, the dream didn't evolve. Apple stopped creating."

The company had a crisis earlier this year as losses mounted, profit margins shrank and the chief executive and many others on the management team were ousted. Apple was said then to be pursuing merger talks.

In the second part of the series, which will be available on April 2, the former Apple executive ponders the company's future.

"If the company is going to get out of this mess, it's through innovation," Mr. Jobs said. "Not through cost-cutting, not through PC clones. When Apple started, it was about great products. It needs to go back to that. I still think there's hope, with the right leadership."

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