When Apple announced last week that it will soon replace Intel processors with its own, I had a flashback to 1993. Morgan Stanley’s technology investment banker Frank Quattrone called me in New York: “John Sculley”—CEO of Apple—“wants to meet with you Friday,” he said. “About what?” I asked. “I don’t know, do your virtual thing.” I booked the 9 p.m. to San Francisco and the redeye home. Meanwhile, I was on the phone all day with the banking team to help create “the book.” No investment banker worth...

Source: Wall Street Journal June 28, 2020 20:22 UTC