Tag Archives: Fortune

Apple soars into Fortune 500′s top 10

Despite the media's best attempts to make it appear that Apple is in dire financial straits, Fortune today reported that the company has made it into the top 10 of the Fortune 500 list.

Apple arrives in the top 10 in the number six spot, replacing HP (now No. 15) as the leading tech company. Here's the amazing thing -- just last year, Apple was listed as No. 17 in the Fortune 500. Two years ago Apple was a distant No. 35, the spot now occupied by Microsoft.

The ranking of the Fortune 500 is based on revenues, with Wal-Mart Stores at the top of the list with 2012 revenues of US$469.2 billion. Three US oil companies -- Exxon Mobil, Chevron and Phillips 66 -- made up the second through fourth positions respectively on the list, with Warren Buffett's investment firm Berkshire Hathaway just ahead of Apple in the No. 5 spot.

Apple's revenues for 2012 were $156.5 billion with profits of $41.7 billion. That profit figure was exceeded only by Exxon Mobil, which, as of today, has a market capitalization of "only" $406 billion compared to Apple's $433 billion.

Apple soars into Fortune 500's top 10 originally appeared on TUAW - The Unofficial Apple Weblog on Mon, 06 May 2013 14:30:00 EST. Please see our terms for use of feeds.

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Fortune: Apple may see first quarter of negative income growth since 2003

Apple investors may want to brace themselves for an onslaught of negative headlines when Apple reports its Q2 2013 earnings in the coming month. According to Philip Elmer-DeWitt of Fortune's Apple 2.0 blog, Apple is expected to report its first year-over-year decline in income in 10 years.

Much of this decline can attributed to lowered gross margins on products. As noted by DeWitt, Apple's gross margin in Q2 2012 sat at an impressive 47.37 percent, while analyst estimates for the 2013 quarter suggest it could fall to as low as 37.5 percent. Though Apple is projected to deliver another quarter of record revenue, this drop in profit margin threatens to drag down Apple's quarterly income.

You can read a brief analysis on Fortune's Apple 2.0 blog and then hop over to Posts At Eventide for a detailed analysis of Apple's current quarter from Robert Paul Leitao.

Fortune: Apple may see first quarter of negative income growth since 2003 originally appeared on TUAW - The Unofficial Apple Weblog on Tue, 26 Mar 2013 10:00:00 EST. Please see our terms for use of feeds.

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Apple Scores the Top Spot on Fortune’s List of Most Admired Companies

toprankingcompaniesFortune released its “World’s Most Admired Companies” list for 2013 yesterday, and unsurprisingly, Apple is at the top of the list once again.

Apple has been Fortune’s most admired company for the past six years in a row, thanks to its ultra successful product line and its unparalleled customer service.

Fortune bases its ranking on a poll of 3,800 industry analysts and executives who rank 1,400 companies with revenues of $10 billion or more based on nine different criteria, including Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial Soundness, Long-Term Investment, Quality of Products/Services, and Global Competitiveness.

Apple was not only recognized as the world’s most admired company, but it was also ranked in the number one spot for each of the above mentioned categories. Fortune mentions that despite issues with Maps and a falling stock price, Apple managed to score $13 billion in net income during the first quarter of 2013.

The company has its fanatical customer base, and it still refuses to compete on price, making the iconic iPhone and iPad products that are still widely seen as prestige devices. Competition may be stiff, but so far it remains behind: In Q4 2012, the iPhone 5 was the world’s best selling smartphone, followed in second place by the iPhone 4S.

To snag the top spot, Apple had to beat out other top contenders like Google, Amazon.com, Coca-Cola, and Starbucks; companies that made Fortune’s top five list after Apple. Other notable tech companies included Microsoft, which came in 17th, Samsung, which came in 35th, and Intel, which came in 42nd.

Fortune has maintained the listing of the most admired companies for the past 30 years. Apple has topped the list since 2008, after receiving 7th place in 2007.

» Related posts: Apple Joins Growing List of Companies Recently Attacked by Hackers If the iPad Were a Tech Company it Would Be 11th Largest In America Apple is the World’s Most Valuable Brand

Daily Update for February 28, 2013

It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world.

You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here.

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Daily Update for February 28, 2013 originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 28 Feb 2013 14:30:00 EST. Please see our terms for use of feeds.

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Apple is Fortune ‘World’s Most Admired Company’ for 2013

For the past 30 years, Fortune has compiled a list of the World's Most Admired Companies. This year, as with the previous five years, Apple took the top spot in the ranking.

The ranking is compiled from results of an annual poll of business executives asking them to identify the companies they most admire. Fortune Senior Editor-at-Large Adam Lashinsky notes that, "For some, the news will come as a surprise. Headlines of late have tended to portend Apple's demise... Corporate admiration, however, appears to outlast the fickle tastes of investors and consumers alike."

Following Apple in the ranking were Google and Amazon.com, followed by beverage providers Coca-Cola and Starbucks. IBM hit the sixth spot as most admired, with Southwest Airlines, Berkshire Hathaway, Walt Disney and FedEx rounding out the list.

Apple is Fortune 'World's Most Admired Company' for 2013 originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 28 Feb 2013 12:00:00 EST. Please see our terms for use of feeds.

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Fortune ranks the Apple analysts

Ranking the Apple analystsAfter Apple's earnings call yesterday the company's stock took a sizable hit. This, of course, was due in large part to the company underperforming analysts' revenue expectations. But rather than rail on Apple, Fortune argues that Wall Street's Apple analysts performed worse than the company itself, and it's worked up a rather handy chart to prove its point.

Ranking a whopping 68 analysts based on how close their predictions came to hitting Apple's true numbers, the chart shows just how dramatically earnings predictions can vary. For example, Apple reported revenue of $54.51 billion, but analyst predictions ranged from $51.70 billion to $65.69 billion. Take a look at some more failed predictions, ranging from insanely optimistic to depressingly dismal, on Fortune.

Fortune ranks the Apple analysts originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 24 Jan 2013 22:30:00 EST. Please see our terms for use of feeds.

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Can Your iPad Tell You if the End of the World is Coming?

mayanPerhaps the rock band REM said it best when they sang that “It’s the End of the World as We Know It (And I Feel Fine).” Or maybe it’s one of the (many) jokes going around that suggests the Myans knocked off early to go for a beer while working on their calendar, stating that if it didn’t get done it wouldn’t be the end of the world.

Some people are panicking, some are ignoring it and some are choosing to have some fun with the whole idea (Kraft Canada has even offered free samples of Kraft Dinner – Macaroni and Cheese for those Canadians who wish to make it their last meal).

But the real question on all of our minds: how can we involve our iPads in this impending doom? Fortunately, we have a few suggestions for you.

Want to try your hand at saving the planet? Try playing 2012 Defend Earth, a game that gives you a chance to exercise a little vigilante justice against the threat of asteroid, earthquake, flood or solar storm. What will the end of the world sound like? Let End of the World Sounds give you a heads up for what you can expect to hear when an alien is eating or we overhear the sounds of alien radio coming from their spaceship cockpits. It’s not quite the same kind of celebration as the ball dropping in Times Square on New Year’s Eve, but the Doomsday Countdown promises to help you “maximize the remaining time.” Or maybe you would just like your fortune read? With The Amazing Fortune Teller 3D. If nothing else, it should serve as good entertainment while you wait. Like the idea of passing the time with a game? Supernova 2012 lets you fight against the Mayan prophecy while trying to keep the Earth save from any and all predators.

My parting words of wisdom come from the National Post, making the editorial assumption that the end is near:

“Not all life on this planet will be exterminated. Yes, the oceans will boil, and the ground under our feet will turn to churning lava. But the eventual planetary explosion also will send countless trillions of terrestrial spores out into the galaxy. In the fullness of time, one or more will alight upon an oxygen-suffused planet not unlike our own.

A little piece of earth will take root and grow. So that’s a win.”

» Related posts: Answer the Tough Questions for Your Child in Jeffy’s World HD – iPad App Review Chillingo Phones Home With New E.T. iPad Game Grand Theft Auto: Vice City Coming to iOS Devices This Fall

Fortune: Apple’s American-made computer will be 2013 Mac Pro

Do you have money riding on a bet that the line of computers Apple's planning to manufacture in the US next year is the Mac Pro? Well, Fortune believes there's a good chance you're right. According to an article by the business publication, there are a few factors that add up to suggest the new Mac Pro will be the domestically produced product.

First off, the publication cites an economist who states that a US$100 million factory should be capable of turning out about 1 million computers per year, a number that lines up with how many Mac Pros were sold by Apple in 2011. Then there's the issue of shipping costs. Fortune contends that it makes much more sense to build the heaviest Mac in the US to save on shipping costs, while its premium sticker price can offset higher manufacturing expenses. Finally, there's the fact that Tim Cook himself has already indicated that a Mac Pro refresh is due in 2013.

So, what's your bet? We'd love to hear it in the comments.

Fortune: Apple's American-made computer will be 2013 Mac Pro originally appeared on TUAW - The Unofficial Apple Weblog on Mon, 10 Dec 2012 14:30:00 EST. Please see our terms for use of feeds.

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Daily Update for December 4, 2012

It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world.

You can listen to today's Apple stories by clicking the inline player (requires Flash) or the non-Flash link below. To subscribe to the podcast for daily listening through iTunes, click here.


No Flash? Click here to listen.

Subscribe via RSS

Daily Update for December 4, 2012 originally appeared on TUAW - The Unofficial Apple Weblog on Tue, 04 Dec 2012 19:15:00 EST. Please see our terms for use of feeds.

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Fortune calls new iMac ‘best ever’

Fortune has officially said what many of us who have already gotten our hands on Apple's newest computer are thinking: the latest iMac is the "best ever." If you haven't played around with one yet, get down to an Apple store and see one for yourself. The images you've seen dancing around the web don't do it justice. More than ever, this Apple product makes its predecessor look stale and boring. Or, as I've said before, the new iMac makes the old iMac look like it was designed by Dell.

Fortune rightly points out that the 21.5" model with 3.1 GHz quad-core i7 Ivy Bridge processor, 16 gigabytes of RAM, a 1 Terabyte "Fusion Drive," and a dedicated Nvidia GeForce GT 650M graphics card is "way more horsepower than most users will ever need." Indeed, even several professional film editors I know don't mind working on the new iMacs given that they can easily run a second Thunderbolt display.

The only thing that really bugged Fortune about the new iMac was the lack of Retina display. For users who haven't used one of the Retina MacBook Pros before, this really won't be an issue. If you have, the iMac's display might be off-putting. Then again, it's not like users have a choice right now. Until the cost and size yields are right don't expect to see Retina displays larger than 15 inches.

Fortune calls new iMac 'best ever' originally appeared on TUAW - The Unofficial Apple Weblog on Tue, 04 Dec 2012 13:45:00 EST. Please see our terms for use of feeds.

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Study: 38% of iPhone customers come from RIM, Android

With sales of iPhones still booming, you might be wondering where all of those customers are coming from. Philip Elmer-DeWitt at Fortune is citing an April survey by the Consumer Intelligence Research Partners (CIRP) that shows that more iPhones were sold to consumers leaving Apple's competitors than to owners of earlier iPhone models.

Data from CIRP indicate that 42 percent of iPhone buyers in April were switching from another smartphone, up from 36 percent in February. 38 percent of those buyers were switching from either Android or BlackBerry -- that's up from 29 percent in February.

Buyers who were coming from a feature phone or who had never owned a mobile phone before accounted for 24 percent of the buyers, while 34 percent were upgrading from an earlier model of the iPhone. Just after the iPhone 4S launched last October, that number was at about 71 percent.

Study: 38% of iPhone customers come from RIM, Android originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 07 Jun 2012 14:00:00 EST. Please see our terms for use of feeds.

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Considering how Tim Cook is changing Apple

Adam Lashinsky, Sr. of Fortune takes an interesting look at Tim Cook and how the new CEO is changing Apple. He spends a great deal of time writing about Cook's business practices and the philosophy that'll shape the Apple of the future. Lashinsky writes,

In general, Apple has become slightly more open and considerably more corporate. In some cases Cook is taking action that Apple sorely needed and employees badly wanted. It's almost as if he is working his way through a to-do list of long-overdue repairs the previous occupant (Jobs) refused to address for no reason other than obstinacy.

He also talks about Cook's relationship with Apple employees and presents Cook as a much more approachable leader than Steve Jobs who was "simultaneously revered, loved, and feared." You can read the entire article on Fortune's website.

Considering how Tim Cook is changing Apple originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 24 May 2012 11:00:00 EST. Please see our terms for use of feeds.

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Apple climbs to 17 on Fortune 500 list

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Fortune released the Fortune 500 list for 2012, and Apple is now in the top 20 of the list of the largest U.S. corporations in the #17 spot. That's a vast improvement from last year's ranking at 35.

Apple has a way to go to get into the top five, which is populated by such famous names as Exxon Mobil, Wal-mart Stores, Chevron, ConocoPhillips, and General Motors. HP was the top tech business in the list at #10, while perennial Fortune 500 place sitter IBM came in behind Apple in the #19 spot. Somewhere, Steve Jobs must be smiling...

In Fortune's industry grouping for "Computers, Office Equipment", HP took the top spot, Apple the second place, and Dell, Xerox, NCR and Pitney Bowes followed the leaders. In case you're wondering where old arch-rivals Microsoft and Dell showed up, they were at spots 37 and 44 respectively. Intel was out of the top 50 in spot number 51, and Google followed the pack in the #73 spot.

Apple climbs to 17 on Fortune 500 list originally appeared on TUAW - The Unofficial Apple Weblog on Tue, 08 May 2012 12:15:00 EST. Please see our terms for use of feeds.

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Survey: 24% of Americans plan to buy the new iPad in the next three months

While all surveys should be viewed with a skeptical eye, a recent study from Baird Equity Research should make Apple watchers happy. As reported by Fortune's Philip Elmer-DeWitt, the survey of 488 "younger, tech-savvier" online respondents by Baird showed some surprising results.

The first result showed that 24 percent of respondents plan to buy the new iPad. If that result is applied to the entire American population, then Apple had better get the plants in China and Brazil fired up, because they'll need to produce about 75,180,000 iPads just to keep the US market happy.

The next surprising result of the survey showed that 29 percent of international respondents planned to purchase the new iPad within the next three months. That figure should also keep the Foxconn factories working overtime. Other information points provided by the survey include that 48 percent of existing iPad owners plan to purchase a new iPad, including 35 percent of those who already own an iPad 2.

15 percent of the US respondents said that they'd like to purchase the newly discounted iPad 2, while 28 percent said that they would purchase an iPad instead of a laptop. Sure, 488 respondents is a small sampling, but the numbers certainly point towards a banner year for iPad sales.

Survey: 24% of Americans plan to buy the new iPad in the next three months originally appeared on TUAW - The Unofficial Apple Weblog on Mon, 26 Mar 2012 15:06:00 EST. Please see our terms for use of feeds.

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Apple Stores and Microsoft Stores by the numbers

TUAW readers know from a series of posts we've run over the years that Microsoft has been opening self-branded stores throughout the U.S., usually just a stone's throw away from well-trafficked Apple Stores. Fortune's JP Mangalindan took a metaphorical bullet for the sake of a story and visited both the Microsoft Store and Apple Store in Santa Clara, California. What the reporter found was that while Microsoft is doing its best to emulate the look, feel and success of the Apple retail outlet, there are differences in the way that things are done.

Mangalindan obviously had fun with his visits, listing the number of customers (14 at the Microsoft Store, 40 at the Apple Store), the number of employees on the floor (11 for Microsoft, 35 for Apple), and such questions as "Employees who said I wouldn't like the laptop I was looking at" (1 at the Microsoft Store, 0 at the Apple Store).

My favorite part of the article was the response Mangalindan received from employees at each store when he told them that he was also looking at Macs -- "We're priced more competitively. What about this Ultrabook from ASUS? It's slim, light, and sexy" -- or at the Apple Store, also looking at PCs -- "Bro, they may be cheaper, but Apple's all about quality. Our customer service can't be beat. [fist bump]"

While we've seen no definitive word on exactly how successful Microsoft's retail strategy is, we know that Microsoft is being almost fanatical about moving into the retail arena. TUAW has heard multiple accounts from Apple Store employees who have been approached by Microsoft to switch teams and go to work at Microsoft Stores; in some cases, the Microsoft offers have reflected dramatic bumps in salary over the comparable positions at the Apple stores.

Have you had a good, bad or indifferent experience at either an Apple or Microsoft Store? Let your fellow readers know about it in the comments below.

Apple Stores and Microsoft Stores by the numbers originally appeared on TUAW - The Unofficial Apple Weblog on Fri, 02 Mar 2012 14:00:00 EST. Please see our terms for use of feeds.

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Apple Tops FORTUNE’s List of Most Admired Companies


Image Courtesy of CNN Money

CNN Money recently released a copy of FORTUNE’s survey that ranked the top 50 most admired companies from the opinion of their peers. Apple ranked number one over all other industries, and also earned the top spot for the computer industry over EMC and Xerox.

According to the report the reason Apple is so highly admired is:

“The company’s annual revenues climbed to $108 billion, led by an 81% increase in iPhone sales — a jump that doesn’t factor in the runaway success of the iPhone 4S — and a 334% spike in iPad sales, due in no small part to the revamped iPad 2. Increased sales across the board explain why shares soared 75% during the company’s fiscal year to $495.”

Apple ranked number one across the board in the nine key attributes of reputation, including social responsibility, which is interesting in light of the way the company has recently been scrutinized for its relationship with Foxconn. The key attributes are :

Innovation People management Use of corporate assets Social responsibility Quality of management Financial soundness Long-term investment Quality of products/services Global competitiveness

Google ranked just below Apple for second place, while Amazon ranked third and IBM came in at fifth place.

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Apple is Fortune’s Most Admired Company for fifth year in a row

For the fifth year in a row, Apple has taken the honors as Fortune's Most Admired Company.

Apple aced out Google, Amazon.com, Coca-Cola, and IBM. Those companies that took second through fifth places respectively.

Fortune cited Apple's stellar financial performance during the last year as the main reason for the company coming in at number one on the list: "The company's annual revenues climbed to US$108 billion, led by an 81% increase in iPhone sales -- a jump that doesn't factor in the runaway success of the iPhone 4S -- and a 334% spike in iPad sales, due in no small part to the revamped iPad 2. Increased sales across the board explain why shares soared 75% during the company's fiscal year to $495."

This year's win ties General Electric for the number of appearances at the top of the Most Admired Company list. One more win in 2013 will put Apple at the top of the heap for years to come. You can read about Apple's wins in 2011 and 2010 by clicking these links.

Apple is Fortune's Most Admired Company for fifth year in a row originally appeared on TUAW - The Unofficial Apple Weblog on Thu, 01 Mar 2012 12:45:00 EST. Please see our terms for use of feeds.

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iOS Boss Next in Line for CEO Position at Apple?


Adam Lashinsky, Senior Editor at Fortune, has a new Apple tell all book in the works entitled “Inside Apple: How America’s Most Admired–and Secretive–Company Really Works.” In the book, Lashinsky names Scott Forstall as Apple’s CEO-in-waiting.

Who is Scott Forstall? First and foremost, he’s Apple’s senior vice president of iOS Software. He’s also the man responsible for the original architecture of the OS X operating system and its aqua interface, a Stanford graduate, and as the head of mobile software, he’s the guy who brings in almost 70% of Apple’s income.

Because he’s responsible for such a large chunk of change, and because he’s so young, he’s believed to be current CEO Tim Cook’s future replacement once Cook retires.

An excerpt from the book on Forstall from one of its sources:

“He’s a sharp, down-to-earth, and talented engineer, and a more-than-decent presenter. He’s the total package.”

Forstall’s main fault, according to Lashinsky, is his obvious ambition. “If there’s a knock on Forestall,” Lashinsky writes, “it’s that he wears his ambition in plainer view than the typical Apple executive. He blatantly accumulated influence in recent years, including, it is whispered, when Jobs was on medical leave.

The book, with information on future CEO Scott Forstall, current CEO Tim Cook, former CEO Steve Jobs, and design guru Jonathan Ive, was not sanctioned by Apple. Lashinsky did not have access to Apple executives like Walter Isaacson did for Jobs’ biography.

Instead, Lashinsky is relying on his connections in the tech world plus interviews with Apple insiders, former employees, and competitors, which is sure to produce some juicy  and controversial Apple gossip.

Lashinskys book, “Inside Apple: How America’s Most Admired–and Secretive–Company Really Works, “ is scheduled for release on January 25th, and will cost $16.92 for the hardcover version and $12.99 for the Kindle version. It can be pre-ordered on Amazon.com.

[via CNN]

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Inside Apple describes Scott Forstall as Apple’s CEO-in-waiting

Apple CEO Tim Cook is an excellent business manager and responsible for much of the company's success in low-cost manufacturing and skinny inventories. But as we saw with Cook's first product announcement on October 4, he lacks a lot of the charisma that marked the Steve Jobs era. A new book is now saying that senior vice president Scott Forstall is the most likely person on the Apple executive team to become CEO after Cook's reign ends.

The book by Adam Lashinsky, Inside Apple: How America's Most Admired -- and Secretive -- Company Really Works, is a deep dive inside of the operation of the company by a Fortune magazine columnist. The book is scheduled to be released next week (appropriately during Macworld | iWorld) and is based on scores of interviews with "collaborators, competitors, and former employees."

Lashinsky notes that Forstall has many of the traits that would make him an excellent choice for the next CEO. He's young (currently 43), comfortable on stage, worked at Jobs' NeXT before moving to Apple, and shares the Jobs obsession with small details. One entrepreneur told Lashinsky that Forstall is "...a sharp, down-to-earth, and talented engineer, and a more-than-decent presenter. He's the total package."

Of course, it could be years before Cook decides to step down, but in the meantime Forstall has time to home his skills and build even more influence inside the company. Considering that he runs the highly-successful iOS software division, that influence is accumulating quickly.

Inside Apple describes Scott Forstall as Apple's CEO-in-waiting originally appeared on TUAW - The Unofficial Apple Weblog on Tue, 17 Jan 2012 11:08:00 EST. Please see our terms for use of feeds.

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Steve Jobs in 1995: "I’ve got a plan that could rescue Apple"

Yesterday we told you that Fortune was publishing a Kindle ebook called "All About Steve." The ebook is a collection of 17 stories and interviews with Steve Jobs drawn from Fortune's articles. Now, while it's nice that Fortune is collecting all their interviews in one place, its no shock they are doing this either. After all, its previous Kindle-only, Apple-themed title, "Inside Apple," landed on the Kindle top ten bestseller list and earned a boatload of money.

For those of you who don't want to shell out $10.99 for an ebook of reprinted articles, Apple 2.0 editor Philip Elmer-Dewitt has pulled some choice clips from some of the Fortune interviews. The best quote, however, is one that have heard before. In 1995 Steve Jobs told Fortune's Brent Schlender, "You know, I've got a plan that could rescue Apple. But nobody there will listen to me..."

As was always the case, Steve Jobs wasn't just blowing smoke. Just two years later Jobs was back at the company and led the greatest turnaround in corporate history. Apple was transformed from a company on the brink of self-destruction into one of the most respected, recognizable and valuable companies in the world.

Steve Jobs in 1995: "I've got a plan that could rescue Apple" originally appeared on TUAW - The Unofficial Apple Weblog on Wed, 28 Sep 2011 16:00:00 EST. Please see our terms for use of feeds.

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