NEW YORK (AP) — Investors in Apple on Thursday morning appeared to be getting over the worst of the shock of Steve Jobs resignation from the CEO post.
Apple shares were down $8.67, or 2.3 percent, at $367.51 in pre-market trading. That's half the loss seen in Thursday's extended trading, after Apple said Jobs would be ceding the CEO job to Tim Cook.
Analyst tried to soothe investors with a reminder that Jobs' departure was expected due to his health problems, even if the timing was not certain.
Peter Misek at Jefferies & Co. said it was a "very positive" sign that Jobs will assume the role of chairman. Misek had expected Jobs to depart completely from the company. As chairman, "Jobs will be able to continue to offer his insights and visions for the future of Apple."
Futures on the Nasdaq 100, which gets more than half its value from technology companies like Apple Inc., fell slightly before the opening bell. more