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→Initial Public Offering
===Initial Public Offering===
===Initial Public Offering===
Apple Computer's '''Initial Public Offering (IPO)''' was held on December 12, 1980. The corporation originally filed to sell its stocks at $14 per share but the stock opened at $22. Apple Computer sold 46 million shares and the stock price closed at $29 per share on its first day of trading. The company recorded a $1.778 billion market valuation. The Apple Computer IPO was recorded the largest in the United States Corporate History since Ford Motor Co.<ref>[http://www.macobserver.com/columns/thisweek/2004/20041218.shtml This Week in Apple Historyby Owen Linzmayer& Bryan Chaffin]</ref> <ref>[http://investor.apple.com/faq.cfm Apple Inc. Frequently Asked Questions]</ref>
Apple Computer's '''Initial Public Offering (IPO)''' was held on December 12, 1980. The corporation originally filed to sell its stocks at $14 per share but the stock opened at $22. Apple Computer sold 46 million shares and the stock price closed at $29 per share on its first day of trading. The company recorded a $1.778 billion market valuation. The Apple Computer IPO was recorded the largest in the United States Corporate History since Ford Motor Co.<ref>[http://www.macobserver.com/columns/thisweek/2004/20041218.shtml This Week in Apple Historyby Owen Linzmayer& Bryan Chaffin]</ref> <ref>[http://investor.apple.com/faq.cfm Apple Inc. Frequently Asked Questions]</ref>
===The Management Shake UP===
In 1981, [[Mike Scott]] , CEO of the company fired 40 employees in one day also known as the '''Black Wednesday''' due to problems related to Apple III. A management reorganization followed wherein Scott was replaced by Mike Markkula as CEO. Steve Jobs became Chairman of the company. Scott left Apple Computer in July of 1981.<ref>[http://apple2history.org/appendix/ahb/ahb2/ Apple History 1978-1981]</ref>
==Market Failures==
==Market Failures==