3 min read
Thirty years ago today, Apple was not what it is today, it was a company fighting for its survival desperately. On February 2, 1996, Gil Amelio took over Apple as a CEO, time when the company was facing internal turmoil, financial crunch and instability. The last CEO, Michael Spindler’s tenure had seen massive financial losses, laid off 1300 employees and failed to halt the Apple’s declining market shares.
When Amelio took over, the condition seemed irreversible but he being an industry expert, was known for stabilizing the faltering companies. He cut the costs, put the failing projects on hold and started restructuring the operations. Despite all his efforts, Apple’s worsening condition couldn’t be revived and the challenges remained. This was the opening through which Steve Jobs re-entered Apple.
After leaving Apple in 1985, Steve Jobs had founded NeXT, which was years ahead of Apple’s technology. Amelio acquired NeXT for about $400 million. Backstage, it was a move to bring Steve back to the company, initially as an advisor but soon as an important figure in its strategy. This move being strategically crucial was also symbolic, Apple was reconnecting with its own innovative roots through the very co-founder it had once lost.
By July 1997, Amelio resigned and Jobs gained immense recognition and later in September he was officially the interim CEO. He allegedly used to call him iCEO. Under his direction, Apple cut unprofitable products, and launched the iMac in 1998, a product that helped return the company to profitability. From there, Apple went on to redefine technology with the iPod, iPhone, and iPad, turning near-bankruptcy into global success.
Then Vs Now
In February 1996, Apple was facing financial losses, shrinking market share, and internal instability that prompted a leadership shake‑up. Michael Spindler’s troubled tenure had failed to reverse the decline, and Gil Amelio stepped in to try to stabilize the company. This difficult period opened the way for Steve Jobs to return and eventually reshape Apple’s future.
Today, Apple is a global technology powerhouse. In its first fiscal quarter of 2026, the company reported a record $143.8 billion in revenue, up 16 % year‑over‑year, with iPhone revenue about $85.3 billion reaching its highest level ever and Services revenue hitting around $30 billion, driven by the App Store, iCloud, Apple Music, and other digital offerings. Apple’s installed base has grown to over 2.5 billion active devices worldwide. Meanwhile, its market capitalization sits near $4 trillion, placing Apple among the most valuable companies on the planet. Developers on the App Store have earned over $550 billion since its launch, with the platform seeing over 850 million average weekly users.
30 years later, February 2 serves as a reminder of how a single leadership change can set off a chain of events that transforms the future. Without Amelio’s brief tenure and the decision to acquire NeXT, it’s possible Steve Jobs might not have returned in time to save Apple. February 2 day marks the beginning of a path that eventually restored Apple’s innovation and influence, showing how even a struggling company can find its way back to greatness.
