Apple: shaky startup
By Asha

With the passing of Tech icon Steve Jobs, there is much interest in everything about Apple and Jobs.   In USA, the TShirts Steve wore most of the time have sold out.  There is a huge backlog if you want to buy the latest iPhone 4S.

Footnoted, which only reports on SEC filings, has dug out Apple preliminary Private Offering document which reflects the caution of the early days

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Operating History: Apple Computer Inc. is a new company which has not established a long history of operation upon which to base opinions of accuracy of forecasts, financial projections or operations efficiency.

Manufacturing: Apple has experienced extreme difficulty in obtaining its custom injection molded cases. There is no assurance that this problem will be solved through establishing additional sources of supply.

Cash Flow vs Rapid Growth: Apple management expects that rapid growth and potential market fluctuations may present severe cash flow management difficulties.

Management: Apple Computers’ Management team is young and relatively in-experienced in the high volume consumer electronics business.
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