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Technology Stocks : Apple Inc.

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From: Jeff Woodard9/27/1995 3:06:00 AM
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Kevin, this reply is pleasing to see. I agree many involved in this industry don't even understand the
basics of the technology. But we have witnessed many instances where the best technology didn't win (my
favorite is Beta vs. VHS). Especially with the move to the home in the US, this game has become much more
of a marketing (rather than technology) game. We have to, as you say, "discount real performance and tech-
nology issues", at least to some extent. And certainly Apple has survived due to the quality of the product,
and NOT because of brilliant marketing, lemmings advertisments notwithstanding. They had a better product,
and they let MS beat them in marketshare. It's that simple. I know why, since I owned the original
IBM PC in 1981 (a $4K beaut with 64K ram and one single-sided disk). Moved on, and up, with 286, 386, and
finally 486 machines. They were fast and cheap. They were NOT elegant (but then, I am a bit of a hack).

There was no cynical disregard for the issues of quality, technology, and the end product!
Why didn't I buy Mac? Remember the Lisa - my first real brush with Apple. Weak offering. Small B&W screen,
not very appealing! Bottom line: Until recently (1 - 1.5 years ago) Mac price/performance simply wasn't
there. They lost market share due to it. Simple. Now they are trying to recover, with good strategy and
improved product. But the numbers are working against them. Can they win? Would love to see it, as I've
become a real convert. But in the long run, I'd hate to bet against MS...even Napoleon would lose with 9-to-1
odds stacked against him.
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