Any investor owning Cupertino-based Apple Computer Inc., had a good week. However, the company is still losing money, suffering declining sales and market share and faces a challenge from software producers. It also lacks a chief executive.
During the last two weeks, several exciting events took place. Microsoft Corp. invested $150 million in Apple Computer Inc. and a new board of directors was named. With change afoot, Wall Street treated the battered stock with a favorable change and for the week, the stock went up 7 5/8 points to 26 7/8. In the last month, the stock rose 113 percent since the resignation of Los Altos Hills resident Gilbert F. Amelio, former chairman and chief executive officer.
Apple also said it sold 1.2 million copies of the Mac OS 8 software since its retail introduction July 26. This is more than four times what the company expected. The latest operating system software is a significant upgrade over previous software systems.
An investment of 100 shares (20 7/8) in Apple Computer Jan. 1 was a losing investment until last week. However, a Jan. 1 investment of $2,088 would result in a $600 profit by week’s end.
