Here’s how Apple stock looked following the news of Steve Jobs’ resignation as CEO. Shares are now down in after hours trading:
This is essentially a knee-jerk reaction to the news. New CEO Tim Cook has been running the company for the past year on a day to day basis.
Still, Jobs’ singular product vision has been a critical aspect of Apple’s success over the past few years in the iPod-iPhone-iPad era. It’s unlikely that Tim Cook, as capable as he is, has the same flair for consumer products. He’s an operations expert.
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