Steve Jobs Resigns from AAPL

Just heard. Forecast on opening stock price?

totally out of left field

Oh shit.. First Layton, now Jobs Fuckl

-15% at least !

Stock halted.. stock will open bidless aka 0$

Down .12% after hours so far.

Best tweet thus far:

@Justin_Stangel Steve Jobs is stepping down as chief executive of Apple. The stock is about to go into the iToilet.

SELL SELL SELL OMG OMG OMG OMG PANIC PANIC PANIC.

In all seriousness though. I say... 12% drop

its halted, there are no trade.. rip jack layton

Short it!

Then buy it back after it settles because APPL will definitley beat earnings next quarter. Even if Steve stepping down greatly affects the company it won't happen right away and will take atleast two quarters to be noticeable.

I'm no doctor but my understanding is pancreatic cancer almost always ends in death. I'd say the timing of this is certainly not out of left field.

Lastly, I think traders may for a little while have fun with this and create some volatility, but from my understanding Tim Cook is totally capable and in fact has been driving this company with the same velocity as it has maintained over the last 5-10 years. As a long term investor, I'm very interested in buying this stock if it falls to attractive levels.

My prayers are out for Jobs who's a business and tech titan and is and always will be a legend

One of the greatest innovators in the past 50 years, a great businessman, and one of the best public speakers today. I wish him and his family the best. He will most definitely be missed.

SELL SELL SELL

jk, AAPL is still king of the jungle but this is really big news.

Does Jobs really have that much of an influence on the apple brand and products?

Am I the only one here who thinks APPL's succession ordeal at the CEO position is not a cause for (immediate) concern? Understandably, the stock has and will continue to dip in the short-term but in my opinion as long as Jobs is still alive, he will continue to call the shots. As far as I'm concerned, Apple is his company and he knows it. An article in Fortune's May issue labeled him as a despot. He insists on making all decisions big and small. In addition, the guy is a trooper. He went against doctors' orders just to present the iPad 2 this past year (shares rose 12% on the news I believe). I think that Tim Cook is there to take some of the smaller burdens off Jobs. To keep my point short, so long as he is breathing, Apple's vision and innovation will remain as does the "BUY" rating.

This is not 'totally out of left field'. Anyone remotely familiar with AAPL knew that this was a long time coming. They've been grooming Tim Cook for years. It would be fucking retarded if the stock price falls.

Steve jobs did a commencement speech a few years back that was truly inspiring and I recommend everyone youtube it. The guy has such an amazing life story.

Also anyone that chooses to sell apple now is a fking idiot. You don't have to be a genius to handicap an event that has a probability near 1. Talk about inefficient markets.

I have a feeling a lot of people in the market are fucking idiots then. It's gonna drop ad renew fears of what happened in the late 80s and 90s where all those crappy CEOs slowly destroyed Apple.

What do you guys think is a good price to buy into AAPL from this news? I'm thinking $350, but it could drift down to $300 if bad econ numbers come out as well

For the record, the largest company in the country by market capitalization is about to get a gay CEO.

I'm hoping apple acquires BAC. Want a mortgage? iTunes. Want a credit line? iTunes. Done and done.

Am I the only asshole on here that got the full report on the story? He is taking over as CHAIRMAN OF THE BOARD. amateurs...SMH

Either way, buying it up tomorrow.

I think apple will be fine. Jobs would not step down if he thought the new CEO would run the company like shit, especially after how much he's done to build it up to where it is.

The stock will close down no more than 2% more than the overall market in my opinion. Cook has already been worked into the CEO role, Jobs clearly stepping down at a time when estimates have nowhere to go but up given the incredible strength of the Iphone and Ipad product cycle and ahead of what is likely to be a great product launch of Iphone 5, Iphone 4 LTE and Ipad 3.

AAPL has $70 in net cash and earnings could be $35 next year easily meaning the stock already trades at 9x forward EPS ex-cash, which implies a discounted multiple due to the inevitability of Jobs stepping down. The fact that this is comign in an orderly manner instead of with a disruptive event (Jobs gets forced out, Jobs dies) is actually a positive for the stock. I would expect the dip at the open to be bought.

Samsung Electronics (SEO) is up 4% as I speak

who knows where it'll settle...probably around $350ish. anyone with half a brain knows that this was inevitable. tim cook has practically been ceo since mid-jan (feb?) when jobs had that first scare. buy into it tomorrow and you'll easily get at least 5% by next week.

the resignation was very sudden though, and it's effective immediately. i would've thought he'd at least stick around for the next product launch. i hope this is not the case, but it sounds like he might have one foot in.

His text was supposed to say 'I reign as CEO of apple'. Autocorrect is a bitch.

Jobs ruled with absolute authority, had an uncanny vision and creativity, and possessed an unparalleled drive for perfection. One of the media outlets described him as being Sam Walton, Walt Disney and Thomas Edison rolled in one. Or this generation's Howard Hughes. No doubt, one of this generation's greatest businessmen.

Jobs health is the one reason I never bought AAPL. I knew this day would come, though not this soon. Its also why I don't hold any BRKA.B anymore- too much value is in Buffet himself.