“Buoyed by a strongly supportive reaction from the Wall Street analyst community, Apple shares have barely budged in the face of yesterday afternoon’s announcement that CEO Steve Jobs is handing over the reins to current COO Tim Cook,” Eric Savitz reports for Forbes.
“The Street expects strong results for the September and December quarters. Ergo, many analysts told their clients to buy the stock today on any weakness in the wake of the news.,” Savitz reports. “And apparently, investors heard and obeyed. While the stock was down 5% after hours last night, and traded off even more sharply in European trading, the stock is now down a mere $1.58, or 0.4%, to $374.60 – on a day when the major indexes are all down more than 1%.”
Savitz reports, “On a relative basis, in other words, the stock is actually nicely outperforming the market.”
Read more in the full article here.
Jobs said he is still having an “active” role in the company, so his innovation is still there. The stock will freefall when he leaves / dies.
No. No, it won’t.
TheConfuzed1 is correct.
Apple’s business model, Tim Cook’s presence, their consistent new product and improved product release cycles, and that wad of cash in the bank without any debt hanging over their heads will keep the stock strong.
Plus, I don’t think anyone thinks Steve is the only innovator in the building… Apple probably has hundreds of innovating people in their research area and thousands in their development area.
“The stock will freefall when he leaves / dies.”
You been talkin to some Windoze types????
Apple is in strong hands. I have every faith in Tim Cook.
I’d like to know what a jump MSFT would do if Ballmer stepped down… but I don’t want him to step down for as long as it takes.
I think Steve stepped down because the PC War is over. Apple has won. As long as it takes is 15 years. It’s taken Steve 15 years to win. I think in 5 years, we’ll look back and see this year was the tipping point. iPads took off. HP sold their PC business. Dell remained pathetically feeble. Acer and Lenovo were making pitiful amounts of money or losing money. Who else is there making PCs? Toshiba? Sony? Please.
Steve knows, as usual, before we do, that he’s won. The company is now battling Exxon for the title of most valuable public company in the world, not, the most valuable tech company, but the most valuable publicly traded company in the world.
I think Steve stepped down because the job as a CEO (when performed with his ambition) is too taxing for his condition.
Otherwise I agree for the most part, except outside the US, Mac market share is still way too low, so low that Macs are still ignored and I need to bring my own Mac to work. Therefore, it still takes some time, I think.
I decided to go and finally grab that 2nd Apple TV today (for the office) Went to the Apple Store downtown, packed as usual.
the two apple salesman i talked with both said the same thing, the resignation was a shock to them. But everyone that had talked to them last night and so far today, all said the same things:
1. Hope Steve Jobs is well.
2. Apple will be just fine.
then there was the questions about the iPhone 5… 🙂 wait that was me.
So… Tell us about the iPhone 5!!!!!
they just smiled and said they don’t know anything 🙁
They smiled. They know something.
I took time this morning to watch his Sanford commencement speech again, must see if you have never watched, and send the link to any HS or collage family or friends
Solid as a rock.
I’m still watching this closely…nearly every major company with a singular, charismatic CEO has gone through a flattening out period after losing that CEO.
Apple’s going to the moon man!
True, but Apple has already been through that downturn… and has already recovered.
Key word here being “nearly”.
But hey, why not live in terror? Apple is, after all, just like every other company.
Of course, when the iPhone 5 comes out and it doesn’t have three USB ports and a joystick, *then* the stock will tank 🙂
And here I had a half mill set to buy when the stock dropped to $200.
Can we not kid ourselves? Everyone that is not Apple is fighting for table scraps. U r apple or u r not.
I for one am glad that the market has finally woken up and realized that Apple’s leadership is strong through out. And also that Steve Jobs isn’t gone and can still have plenty of input. Tim Cook has been running the show twice already in Jobs absence and there had been no disruptions in the way Apple works. I really don’t expect any in the future either.
This flies in the face of the cretinous comment by BNN’s Michael Hainsworth,: “Wall Street will not be happy…”