To: Scrapps who wrote (11260 ) 1/4/1998 2:32:00 PM From: Glenn D. Rudolph Read Replies (1) | Respond to of 22053
Apple trotting out celebrities instead of new CEO Reuters Story - January 04, 1998 12:29 %BUS %ENT %US %DPR MSFT AAPL IBM V%REUTER P%RTR By Therese Poletti SAN FRANCISCO, Jan 4 (Reuters) - As the Macintosh faithful prepare for this week's MacWorld trade show, Mac users, analysts and Wall Street are all wondering if Apple Computer Inc. interim CEO Steve Jobs has anything up his sleeve. At the last MacWorld in August, Jobs stunned the industry by announcing a $150 million investment in Apple by former arch-rival Microsoft Corp. and a shake-up of Apple's board of directors, which included Jobs joining the board. Now, as Apple's search for a permanent chief executive takes varying twists and turns as Silicon Valley's latest soap opera, many are hoping that Jobs will pull another surprise at MacWorld, such as announcing he will head the struggling company or name someone else as CEO. On Friday, Apple's shares jumped $3.125 to $16.25, as Wall Street hoped for some positive news next week. But most analysts and Apple watchers do not expect any major news at the show, which starts next Tuesday. "What Jobs is going to do who knows, you can't get blood out a stone," said Lou Mazzucchelli, a Gerard, Klauer Mattison analyst, adding that he does not expect a CEO to be named. "I'm not expecting to hear anything. I would be very surprised but you can't rule it out." Apple has been looking for a chief executive since July, when former CEO Gil Amelio was ousted by Apple's board. Because Jobs is known for making dramatic announcements, analysts said one cannot bet against the element of surprise. But they note that the rumor mills are especially quiet in Silicon Valley, especially because the Cupertino, Calif. company - like many in the valley - has been technically shut from Christmas Eve until the New Year. Analysts said one of the biggest product annoucements expected is the first upgrade of Microsoft Corp.'s Office suite of applications for the Macintosh in almost two years. "Mac users will get a very powerful tool, that to me is the biggest news of the show," said Tim Bajarin, president of Creative Strategies Inc., of San Jose., Calif. "I think we will hear a progress report from Steve. He will also talk about the online store, how sales are doing. He will use it as another rah-rah rallying point. I am positive they will not announce a CEO." Instead, Apple will trot out actors, athletes and thinkers, who will be touting the Mac for those who "Think Different," including actor Gregory Hines, Olympian and world heavyweight champion Muhammad Ali, Nobel Prize Winner Dr. Donald Glaser and actress Jennifer Jason Leigh. In this separate keynote, these "forward thinkers and world-changers" will demonstrate how they are using Apple technology in their creative lives, tying in with Apple's new advertising campaign and slogan. International Business Machines Corp. is also expected on Monday to unveil a faster PowerPC processor, a 275 megahertz version of the PowerPC. IBM could not be reached for comment. Other news will include software update announcements on Rhapsody, Apple's next generation operating system and the announcement of the next version of the Mac operating system, version 8.1. Mazzucchelli said he has heard rumors of a new eMate, the low-cost device that is somewhere between a Powerbook and the handheld Pilot, targeted at business users. Apple already launched a slew of new Power Macintoshes in November, based on the G3 PowerPC processor and at the same time announced it was selling Macs over the Internet. Analysts said the new Macs are selling well, but that sales of the older Macs have stalled, and some analysts expect further price cuts to reduce the inventories at some dealers. Apple reports its first quarter earnings Jan. 14. Wall Street expects the company to report a loss of six cents a share, but some analysts are hoping for break-even earnings.