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  • Apple Stock Takes Hit as Wall Street Reacts to Jobs' Resignation



    Steve Jobs' resignation, while unexpected in its timing, isn't shocking to those who have followed Apple in recent years. However, that hasn't stopped Wall Street from initially overreacting to Jobs departure.

    Apple stock is down about $20 in after-hours trading in response to Jobs departure. Like so much in the markets these days there is an uncertainty revolving around the future of Apple. However, if Jobs previous leaves of absences are any indication, this dip in stock price is business as usual. Every time concerns about Jobs' future at Apple have surfaced, the company's stock has taken a very noticeable dip.

    Jobs' pancreatic surgery in August 2004? Dip. Liver transplant in January of 2009? Dip. Anounces medical leave of absence January 17 of this year? Dip.

    Apple's stock isn't likely dip much more. Each time the company has rebounded following concerns of Jobs position within the company. However, each time Jobs has resumed his position as CEO. This time is different, Jobs isn't coming back as CEO, although he will be actively involved in the company.

    The future of Apple will be interesting, but the immediate future of the company's stock value shouldn't be of concern, especially with the release of the new iPhone just on the horizon. Emphasis on should. The company so many have grown so fond has entered the transitionary period many wished against all odds would never happen. However, if anyone can move a company along the same path posthumously, it is Steve Jobs.

    Source: Gizmodo
    This article was originally published in forum thread: Apple Stock Takes Hit as Wall Street Reacts to Jobs Resignation started by Phillip Swanson View original post
    Comments 9 Comments
    1. R0ck1t's Avatar
      R0ck1t -
      wahhh steve i miss you already
    1. Dazz187s's Avatar
      Dazz187s -
      Hope apple will survive without Steve jobs.
    1. maddawg05's Avatar
      maddawg05 -
      Just checked Apple stock and it's up by $2?!?
    1. Silverado1987's Avatar
      Silverado1987 -
      Fine. Steve jobs. Not for apple.

      Steve Jobs for President of the United States lol
    1. starkall's Avatar
      starkall -
      Why don't you guys just get on your knees for him! Lol
    1. Donnutt's Avatar
      Donnutt -
      Quote Originally Posted by Silverado1987 View Post
      Fine. Steve jobs. Not for apple.

      Steve Jobs for President of the United States lol
      One things for sure, if he were president, We wouldn't be in debt! We would be the richest company...err country in the world!
    1. whereswaldo's Avatar
      whereswaldo -
      Whats that big dip around 2008? Anyone mind explaining that?
    1. Mes's Avatar
      Mes -
      ^The housing crash, S&P @ 666, TARP, multi-$B bank bail-outs, etc
    1. RICO_'s Avatar
      RICO_ -
      People are taking this way to seriously. There are MANY more people responsible for the stability and day-to-day operations that keep Apple going than just Steve Jobs. I swear some of you sound like you want to throw yourself off a cliff and he hasn't even LEFT Apple. He's still very much involved with their operations.

      So grow up and chill the hell out. Everything will be fine. Jeez.