Apple Stock Watch: Investors React to Steve Jobs Stepping Down as CEO
Steve Jobs? resignation has everyone obsessing about Appleapos;s stock price. The world?s most valuable technology company lost nearly 7 percent in share value in after-market trading, but bounced back slightly the morning after Jobs announced he was stepping down as CEO to be replaced by longtime Apple COO Tim Cook. Since Jobs returned to the company in 1997, Appleapos;s share price has risen a hundredfold, and the company is poised to generate $120 billion in revenues this year. Jobs? health has been a concern for investors ever since he revealed in 2004 that he had pancreatic cancer. But many analysts say that the Apple founder has groomed a management team that will ensure the company?s continued success.