Intel Reminds Me Of Apple In 1997

Maybe this is just because I watched Pirates of Silicon Valley too many times as a kid.

This was before Apple was “cool” and Steve Jobs was “iconic”, before I worked for Apple during the very first iPhone launch, and back when I just loved disassembling my LC, writing programs in HyperCard and using ResEdit to brick System 7 on my Performa 400.

But Intel today reminds me of Apple in 1997.

Back in August 1997, Apple was on life support. Its market share had cratered, it was bleeding cash, and most analysts thought bankruptcy was inevitable. Then came a lifeline: Microsoft announced it would invest $150 million in Apple. The deal wasn’t just money—it included a commitment to keep developing Microsoft Office for Mac, a settlement of ongoing lawsuits, and a public show of support from Bill Gates himself.

In the 45 year chart of Apple stock below, it looks like it was at $0 back then because, basically, it was. Apple traded at a split adjusted price of $0.16 per share.

At the time, Microsoft was the undisputed king of the software world—worth over $200 billion—while Apple’s market cap had collapsed to around $2–3 billion. Microsoft was roughly 100 times Apple’s size. That imbalance made the partnership look like charity, and Gates was even booed when his face appeared via satellite at Macworld to announce the deal. Hell, I was absolutely crestfallen to see it as an Apple fan my whole life. Gates was my sworn enemy, and it felt like he had won.

Most people thought Apple was finished. But that investment gave...(READ THIS FULL COLUMN, 100% FREE, HERE).

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