Hopefully they have enough things in the works that Apple can cruise on autopilot for awhile. I doubt he pulled out without a good deal of thought going into the transition first.
there have been Jobs rumours for a while. this should be expected.
that said, Apple stock would seem like a good buy after it bottoms out. they've absolutely cornered two markets - mp3 players and tablets - and the iPhone is doing great in the smartphone market, and that's to say nothing about the free billions they're making off the app store. they recently passed Exxon-Mobil for most valuable company in the world. nice work, Steve.
Apple is going to be fine. It's not like this is a sudden development after all. He's been sick for years and I'm sure the company has made preparations for this. Will Apple's stock tank tomorrow? Almost definitely. But as time passes and investors realize the company will be fine without him, it will recover.
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"Don't freeze up girl, you're looking quite a sight." - Adam Ant. "Baby, can you dig your man? He's a righteous man." - Larry Underwood
Apple's share value right now is around the highest it's ever been. Even if it's ugly tomorrow, I don't think I'd have the guts to buy even two or three shares. It kinda reminds me of a time in college where people argued that buying Google at $700 was a good idea because the sky was the limit.
-- Yoblazer: http://i32.tinypic.com/zlf1w7.gif Watch and you'll see... someday I'll be... part of your world!
If we examine what's happened to Apple's stock whenever Steve Jobs has taken a leave of absence, a pattern begins to emerge.
In 2004: Cook filled in for Jobs in August and September. On August 6, 2004, Apple's stock was trading at $14.89 per shareits lowest level in months. By October 8, 2004, the stock was trading at $19.53 per share. By the end of the year, with Jobs back, the stock was at $32.20 per share.
In 2009: Cook filled in for Jobs from mid-January until the end of June. On January 16, 2009, Apple's stock was again at its lowest level in months: $82.33 per share. By July 2, 2009, the stock was trading at $140.02 per share. Apple finished out the year at $210.73 per share.
So Steve Jobs appears to have a positive affect on Apple stock while he's in charge (or when he comes back from a leave of absence) and a negative affect on the stock when he initially goes on a leave of absence.
However, both times that Cook has filled in for Jobs, Apple's stock has gone up. Perhaps not as astronomically as when Jobs is in the driver's seat, but up nonetheless. It could be argued that if Jobs were to leave Apple altogether, the company may not grow as outrageously as it has in the past. But it's very unlikely that the company would crash and burn.
I'm really hesitant, but I could wait until tomorrow to see if I'll put in like 2K.
The thing is that Jobs was Apple. When he came back, he took a near-dead company and made it one of the largest and most visible in the world. iPad, iPhone, those old computers with the funky colors on the back - that was all him. He wasn't just a corporate suit, he really was a visionary.
-- Yoblazer: http://oi52.tinypic.com/ad21i1.jpg Watch and you'll see... someday I'll be... part of your world!
innovation is where Jobs comes in. Cook already runs the company and manages it super effectively but Jobs is the one who really pushes things forward. (or at least that's how it seems from the outside)
Never been a fan of Apple products but no one can deny his success. I hope if the cancer rumors are true that he can make a full recovery, the world needs more people like him.