Steve Jobs Resignation & Apple Impact: What About Stock?

Many of you will still be reeling from the news that Steve Jobs has resigned his post as CEO of Apple, handing over the reins to Tim Cook. Health concerns have been ongoing for Mr. Jobs for some time and sadly he considers that it’s now time to pass on the mantle to somebody more fit for the job, although he will stay on as chairman of the giant tech company. Now the initial shock is residing it may be time to consider what impact this announcement will have on Apple and question what will happen to stock.

Earlier today our Matt Tran brought the news of the resignation and wondered if perhaps Steve Jobs would make one last surprise appearance at an Apple unveiling, with the iPhone 5 due to be unveiled soon. This would certainly be a great gesture to Apple fans and the tech world and something we’d certainly love to see, although of course Mr. Jobs must look after his health first and foremost. As far as the impact on Apple goes, it seems that although stock may be hit initially, the likelihood is that the long-term influence will be negligible.

When news of the resignation came, after-hours trading showed an initial drop in stock of almost 7%, working out at $26 a share, to $350, according to Kaja Whitehouse on the New York Post. One analyst, Peter Misek of Jefferies in New York, expects stock today to sell off but said he will be advising clients to “buy into the selling,” adding that, “the product roadmap for Apple is pretty much set for the next five to 10 years.” Misek also pointed out that for at least another 2 years the influence of Jobs on the next products out will be felt and added that Tim Cook, the new CEO is very well respected.

A BBC report meanwhile tells how after-hours trading in New York last night saw Apple shares eventually settle at 5% down, at $357.10. In early trading in Frankfurt, Germany have seen shares fall as anticipated and secondary listing showed a drop of 4.5% at 247.30 euros. It will certainly be interesting to see what happens to shares today when NASDAQ opens, with expectations that there will be a fall, but overall the feeling is that in the long-term Apple is still strong and will recover quickly from any initial impact from the resignation of Steve Jobs.

We’d be interested to hear your predictions for how the resignation of Steve Jobs will impress upon Apple. Do you think Apple will struggle without Jobs, or maybe you think as most seem to, that Apple as a company is so solid that it will continue to thrive? Let us have your comments.