logo

Top Ten Corporate Comeback Stories

1 / 11
Apple
Apple

Touted as the benchmark of all business comebacks, Apple had fallen on hard times in the years after Steve Jobs and Steve Wozniak co-founded the company out of a garage in Silicon Valley. It almost foundered in the late '90s, perhaps due to its over-dependence on one product - the personal computer. Dissatisfied with Jobs' performance at its helm, Apple's board of directors voted in the mid-1980s to terminate Jobs from the company he started. The move did little to reverse Apple's fortunes, however, with the company cycling through a series of ineffective chief executive officers.

Jobs, meanwhile, started Pixar, an innovative movie studio known for its superior digital technology. He merged this into his subsequent venture Next. In 1997, Steve Jobs returned to the company he had founded. It was seemingly on its last legs, having suffered 12 years of losses. But soon Jobs turned the company around. He started off by taking a $150-million cash infusion from rival Microsoft in exchange for rights to ship Microsoft Office and Internet Explorer on the Macintosh.

He changed the company's original strategy of being a "computers-only" company. Over the next 15 years, he was the driving force behind some of the biggest technological breakthroughs of this century, presiding over an unprecedented period of growth that saw the release of the iTunes Music Store, the iPod, the iPhone, and the iPad, among other groundbreaking consumer products.