Apple stock recovers from shock of Jobs resigning

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

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What!! Jobs quits his Job? As CEO of Apple

BrothaBinary Reports:

"Steve Jobs resigns as CEO of Apple"

He had a great run

In a letter he sent 

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee more

 

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