Wow Steve Jobs Resigns from Apple

Definitely was not expecting to find out that Steve Jobs has resigned from Apple, stating that he is unable to fulfill the duties of CEO. But what makes this less shocking is that Steve Jobs will remain with Apple, Inc serving as Chairman, director and Apple employee.

Well, nothing was left to chance because there was a succession plan in place and Tim Cook who has done a marvelous job of running Apple in Mr. Jobs absence/medical leave now takes over as CEO. This was kinda expected that Mr. Cook was the heir apparent.

I do not think we'll have to worry about drastic changes at Apple, Inc as it relates to products, innovation, etc. These guys have been together and Mr. Jobs is not exactly leaving the company he just won't be overseeing day-to-day operations.

I'm not so sure how the stock market is going to react to this news though. There's definitely going to be a drop in the price but with a launch of the new iPhone 5 slated for September/October things will bounce back. Although analyst say the launch date is too late to be included in revenues for the Quarter and the Earnings Call. It just means the holiday Quarter will be tremendous with products launched in the Fall along with the run up through Christmas.