Investors, others ponder Apple’s Jobs-less future – CityNews


Apple Inc.’s Steve Jobs shook the technology and business markets Wednesday with his decision to resign as the company’s chief executive.

Jobs, 56, noted in his letter of resignation that “I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.”

The CEO role has been passed on to Tim Cook, 50, the company’s chief operating officer.

Jobs didn’t say why he was leaving his post, but investors believe it’s likely related to his health given that he’s faced multiple problems in recent years, including pancreatic cancer and a liver transplant.

Apple’s shares fell as much as 7 per cent in after-hours trading Wednesday after Jobs’ resignation announcement. But they recovered almost all their losses on Thursday, closing down 1 per cent to $373.72 in New York.

Many are wondering about the company and whether Jobs leaving the helm would affect its future and well-being.

People on social media including Twitter reacted immediately using the hashtag “#SteveJobs.”

The reaction has been mixed with some saying that Jobs created the “Apple Experience,” and that “it just won’t be the same anymore.” People on the other end of the spectrum indicated that his replacement will be successful in “steering the ship back in the right direction.”

In an email, Cook addressed Apple employees amidst negative speculation that “I want you to be confident that Apple is not going to change. I cherish and celebrate Apple’s unique principles and values. Steve built a company and culture that is unlike any other in the world and we are going to stay true to that—it is in our DNA.”

Most agree that Jobs played a pivotal role in creating Apple as a brand.  Investors urged shareholders to remember that Cook is supported by an existing team of Apple executives, including Jonathan Ive (responsible for creating that signature and simplistic design of Apple products), as well as its marketing-mastermind Phil Schiller. The latter leads a marketing campaign responsible for the sale of nearly 29 million iPads.

Investors also believe that Apple will have several kinks to undo, and that the markets will have an opportunity to balance itself out.  Most importantly, in the end, consumers will still get the gadgets that they’ve come to know and love — not to mention the imminent release of the iPhone 5.

Jobs will, without doubt, go into the history books as the man responsible for creating the Apple brand that was once “geek” but is now chic and cutting-edge.

As for predicting Apple’s future, consumers, investors, and competitors will have to wait and see how viable the company does without Jobs.

Repost from CityNews.ca


About Winston Sih

Winston is currently the Digital Media Producer-Correspondent for City television stations across Canada, producing content for the network’s digital properties including Breakfast Television, Cityline, CityNews and Entertainment City. He is also an on-air correspondent for the network’s in-house productions where he can be seen reporting on the latest social news and trends.