1976 : Steve Jobs and Stephen Wozniak set up shop in the garage of Jobs' parents' home in Cupertino, Calif. to design a computer. Jobs sells his Volkswagen van and Wozniak sells his programmable calculator to finance the building of the first 50 Apple Icircuit boards. The company's first computer, featuring a wooden frame, appeals mainly to hobbyists.

1977 : A.C. Markkula joins Apple as partner and chairman when it incorporates. The company introduces a more advanced computer called the Apple II that helps launch the era of desktop computers.

1980 : Apple goes public.

1983 : Riding a boom in personal computers, Apple enters the Fortune 500 and hires former Pepsi executive John Sculley as chief executive officer.

1984 : Apple introduces the Macintosh computer in a television ad during the Superbowl. The 60-second commerical airs only once but the image of an athletic woman bursting into a drab room of corporate drones and smashing an image of Big Brother crystalizes Apple's message as an alternative to IBM.

1985 : In a stunning boardroom coup, Sculley ousts Jobs in an attempt to put an end to a bitter split between those who believed in the Macintosh vs. those who supported the Apple II.Apple also announces layoffs of 1,200 employees in the face of losses.

1987 : Apple launches the Mac II.

1988 : Apple files lawsuit against Microsoft Corp. over the company's Windows operating system.

1991 : Apple announces that it will cut 10 percent of its 15,600 work force in a restructuring program.

1992 : Apple loses copyright ruling in its lawsuit against Microsoft.

1993 : Apple introduces Newton personal digital assistant, a hand held computer, which flops. The fallout from the device prompts Apple to replace Sculley with President and Chief Operating Officer Michael Spindler. Apple reports a sharp decline in profits and announces layoffs of 2,500 employees, or about 15 percent of its work force. Michael Spindler becomes CEO.

1994 : Apple launches a new line of computers called the Power Macintosh, which uses a RISC microprocessor developed in alliance with IBM and Motorola. IBM reportedly makes a bid for Apple but is rebuffed.

1995 : Apple launches a new line of laptop computers but is forced to recall them after two models burst into flames. While other computer markers are cashing in on the PC craze, a shortage of components keeps Apple customers waiting. By mid-year, Apple's backlog soars to $1 billion. Apple reports a larger-than-expected 48 percent drop in fourth-quarter profits to $60 million despite a 20 percent rise in sales to a record $3 billion.

Jan 1996 : Apple posts a $69 million first-quarter loss, a first for the normally robust Christmas quarter. The company also announces 1,300 layoffs as part of a restructuring plan amounting to 8 percent of its work force. Pressure builds on Spindler to step down. At the company's annual meeting, shareholders berate Spindler but the company's chairman, A.C. Markkula, says Spindler has the board's full support. Apple and Sun Microsystems Inc. discuss a possible merger but talks break down over price. Apple's board of directors meets in New York and decides to replace Spindler with board member Gilbert Amelio, who previously served as chairman and chief executive for National Semiconductor Corp.

March 1996 : Apple names former Automated Data Processing executive Fred Anderson as chief financial officer and announces an alliance with online information giant America Online Inc. Apple Chairman Amelio warns investors the company will post a second-quarter loss of $700 million. More than half of the loss will come from inventory writedows.

Dec 1996 : Apple announces plans to acquire Steve Jobs' Next Software Inc. for $400 million, reuniting the former co-founder with the company.

Jan 1997 : Apple posts an unexpected $120 million loss for the first quarter of fiscal 1997 as sales of its flagship Macintosh model fall sharply. After promising a return to profitability by March, Amelio tells investors the company now expects to remain in the red until the September quarter. Faced with shrinking revenues, he also announces plans for another restructuring. Dataquest, which tracks PC sales worldwide, says Apple's share of the worldwide market fell in 1996 to 5.2 percent from 7.9 percent.

March 1997 : Larry Ellison, the billionaire founder of software firm Oracle Corp., says he's thinking about making a bid for Apple. Apple hires Goldman Sachs to help fend off Ellison's bid.

April 1997 : Ellison decides to put off a bid for Apple for the moment.

July 1997 : Amelio resigns and Apple begins search for a new CEO. Meanwhile, Jobs assumes an expanded role, fueling speculation he may take over the troubled computer firm.

Aug 1997 : Microsoft invested 150 millions in Apple shares and help to develop and run the Microsoft O/S on Apple PC.

1998 : Apple become profitable again.

Apple's new style iMac computer .

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