View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
March 28, 1996

APPLE’S SECOND QUARTER LOSS WILL LIKELY HIT $700M

By CBR Staff Writer

Warning that its second quarter loss would be even worse than expected at some $700m, Apple Computer Inc chairman and chief executive Gilbert Amelio tried to rally the company’s disheartened fans, saying that he understands what the company’s problems are and is hard at work on a plan to fix them. He expects to begin to give details of the turnaround plan in May. It is not too hard to catch Wall Street analysts on the hop and they were dismayed that such a large loss should hit the company just the whole personal computer industry hits the buffers. Apple said that half the $700m loss will consist of inventory writedowns because of slowing computer sales, a quarter will be restructuring charges, and some $175m will be the trading loss. Apple’s shares were trading down at $23.875 ahead of the news.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU