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- Monday, August 29, 2011

Steve Jobs resigns, Apple's stock dived

Steve Jobs

Steve Jobs resigns; keep calm and carry on

While Apple's stock dived by about 5 percent in after-hours trading, the impact of Job's departure is cushioned by the fact that he's leaving the company at its zenith: Apple is the world's most valuable tech company. The company is preparing the next iteration of its highly successful iPhone and iPad and we can safely assume that Jobs signed off on these products before his surprise announcement.

By becoming the chairman of the board at Apple, Jobs will no doubt have much say about future products and if anyone at Apple needed to be reminded about his vision, they can just look at its planned new campus. He also leaves behind a capable successor: New CEO, Tim Cook, has filled in previously for Jobs and knows the company extensively. Design guru, Jonathan Ive, is another long-time Apple employee who probably knows Jobs' mind better than anyone else. 

In short, given the circumstances, Steve Jobs has seen this day coming for a while now and it should be business as usual at Apple. Whether Apple can truly replace its great leader is, however, something that no one can answer.

Vincent Chang
Vincent Chang
Senior Writer

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