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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>
==Market Failures==
===Apple III===
===Apple III===
On May 19, 1980, Apple Computer unveiled the successor of Apple II during the National Computer Conference at Anaheim, California. The Apple III had 128 K RAM with a built-in floppy drive and 4 internal expansion slots compatible with Apple II cards. The Apple III had a silent-type support built in using the Port A. During the development of Apple III, Jobs instructed the project development team to create a computer with smaller dimension without a cooling fan to make the product look elegant and to reduce noise when operating the machine. As instructed, the development team fit in all the components of the computer in a small dimension minus the cooling fun. Consumers who bought the machine complained of motherboard overheat, chips came out of their sockets and the real time clock did not work. Apple III was recalled. Apple Comput On April 24, 1984, Apple Computer introduced Apple III plus, an improved version of the Apple III. It has a standard 256 KB RAM, built-in clock and video capability. The product did not click to consumers and it was pulled out from the market after four months. In short, the Apple III project was a complete failure. The company ony sold a total of 65,000 units. <ref>[http://oldcomputers.net/appleiii.html Apple III]</ref> <ref>[http://www.csmonitor.com/Business/2011/0917/Evolution-of-an-Apple-revolution Evolution of an Apple Revolution]</ref> <ref>[http://www.applelogic.org/AIIIDesignBugs.html What really killed the Apple III]</ref>
On May 19, 1980, Apple Computer unveiled the successor of Apple II during the National Computer Conference at Anaheim, California. The Apple III had 128 K RAM with a built-in floppy drive and 4 internal expansion slots compatible with Apple II cards. The Apple III had a silent-type support built in using the Port A. During the development of Apple III, Jobs instructed the project development team to create a computer with smaller dimension without a cooling fan to make the product look elegant and to reduce noise when operating the machine. As instructed, the development team fit in all the components of the computer in a small dimension minus the cooling fun. Consumers who bought the machine complained of motherboard overheat, chips came out of their sockets and the real time clock did not work. Apple III was recalled. Apple Comput On April 24, 1984, Apple Computer introduced Apple III plus, an improved version of the Apple III. It has a standard 256 KB RAM, built-in clock and video capability. The product did not click to consumers and it was pulled out from the market after four months. In short, the Apple III project was a complete failure. The company ony sold a total of 65,000 units. <ref>[http://oldcomputers.net/appleiii.html Apple III]</ref> <ref>[http://www.csmonitor.com/Business/2011/0917/Evolution-of-an-Apple-revolution Evolution of an Apple Revolution]</ref> <ref>[http://www.applelogic.org/AIIIDesignBugs.html What really killed the Apple III]</ref>