# Steve Jobs Retires from Apple



## Belguy (May 24, 2010)

Steve Jobs has tendered his resignation from Apple today!!

http://news.cnet.com/8301-27076_3-20096895-248/steve-jobs-steps-down-from-apple/

How is this likely to affect Apple's stock short and longer term?


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## larry81 (Nov 22, 2010)

-6% after hour as i write this


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## webber22 (Mar 6, 2011)

In after hours trading, AAPL stock is worth only 10 cents


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## KaeJS (Sep 28, 2010)

Jesus fawk.

$23 negative? give me a break.


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## andrewf (Mar 1, 2010)

Entirely expected. The guy is dying of cancer. I am somewhat puzzled that it wasn't more priced into the stock.


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## donald (Apr 18, 2011)

I just bought 25 shares last week,damn-it!!!Come on Tim Cook,@ least jobs is still alive and on the board,cook has been ceo since january,Everything is fine but i know the street is going to kill this stock most likely.fawk.


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## KaeJS (Sep 28, 2010)

donald said:


> Everything is fine but i know the street is going to kill this stock most likely.fawk.


exactly my thoughts.

this is going to be punished. Hard. 

Support at $300?


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## donald (Apr 18, 2011)

Cook has been handed the torch now,his day has come and now its here.This is a better scenario than if jobs passed away imo,gawd thou,i step out thinking this was a good entry after the pull back.I got hurt pretty bad on my cat holdings and now my appl is going to get hurt.(short-term thou)


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## KaeJS (Sep 28, 2010)

I just checked Questrade.

AAPL is trading around the -$15.00 after hour mark.

There is already support.

I wouldn't worry too much. Initial sell off and then a bounce back.

But seriously, people are emotional as all hell. It's not like the guy just up and left in the middle of a tough time. The company just passed XOM and is now the world's most valuable company, and all he did was step down to chairman.

You'd think the world ended or something.


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## gibor365 (Apr 1, 2011)

As per 7.30pm AAPL is down -19.58 (-5.21%) . Interesting what was the biggest decline in after hours trading?

imho it can go down to $330, than maybe I'll buy it


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## Belguy (May 24, 2010)

Down $19.00 or 5 per cent as of 7:30 EDT. Fun to watch it move!!


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## gibor365 (Apr 1, 2011)

Jobs is a very smart guy.... when he took leave on absence , he took it in the right time , that AAPL won't get hit hard....
maybe he announce it today in order Bernake and Co will teke more significant steps on Friday?


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## webber22 (Mar 6, 2011)

Let's see, a tornado warning on one side, a hurricane coming up another side, a passing earthquake the other day, 500+ daily moves on the tsx, now Steve Jobs abandoning the ship. 2012 is here !!!!!!


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## donald (Apr 18, 2011)

There going into there strongest yearly quater,with back to school sales,christmas ex,watch,it will get killed for awaile,but there next report will kill imo.

Its not like Jobs has not masterminded his "baby" and legacy,His team is still the cream of the crop!Tim cook has got big shoes to fill,but appl knows what there doing!

Could be a great set-up for a buy if everybody gets emotional over the jobs news?Maybe the impact wont be that bad?


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## fatcat (Nov 11, 2009)

> You'd think the world ended or something.


 it has ... he had a unique vision and a unique power that was hard to resist .. apple without jobs is just another microsoft with a bigger market cap ... jobs was apple and you can talk all day about their team and their product category leads ... but he had vision

every other tech company ceo out there is saying "thank god, maybe we can grab some share now"

the tech world just had their own earthquake ..


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## donald (Apr 18, 2011)

Nobody is going to replace jobs there is no doubt about that,he is most likely the best ceo and visionary ever beside rockerfeller of course,but appl is ushering in there new generation,Tim cook is no slouch.

Its like the hockey world,nobody is going to replace bobby orr,than nobody is going tp replace greatzky,now crosby....Life is like that...who is to say apple wont be better?Nobody knows,Its not like jobs is dead yet either.


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## KaeJS (Sep 28, 2010)

As of 8:01pm, AAPL: *357.10 *N/A N/A 378.96 370.60 -16.50 



fatcat said:


> it has ... he had a unique vision and a unique power that was hard to resist .. apple without jobs is just another microsoft with a bigger market cap ... jobs was apple and you can talk all day about their team and their product category leads ... but he had vision ..


I disagree with everything you just said, multiplied by two.

Jobs is still the Chairman, and do you think people are going to stop buying iPhones, iPads, iPods? 

Jobs was the face of the COMPANY, he is not the face of the PRODUCT.

And you know who cares about the face of the company? NOBODY.
Steve Jobs is to Apple as Barack Obama is to the United States - Replaceable.

Go to the Apple Store tomorrow and tell me if it's vacant or not.


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## fatcat (Nov 11, 2009)

> I disagree with everything you just said, multiplied by two.


 ok, fair enough, i respect your opinion 


> Jobs is still the Chairman, and do you think people are going to stop buying iPhones, iPads, iPods?


 actually he is asking to be kept on as chairman of the board and that is a good thing but his guidance will be a lot different, now you have cook as ceo and now you have politics and bureaucracy and so on ... people will still buy apple products in bucketloads, for the present, it's the future i am concerned about ... i worked on the microsoft campus back in the 90's when it was shi#ting invincibility ... it was a powerhouse that couldn't be touched ... look at it today .. 


> Jobs was the face of the COMPANY, he is not the face of the PRODUCT.


 i beg to differ, his presence at significant rollouts in the black turtleneck is a major deal .. it's a right of passage that any new huge product is introduced by jobs on stage


> And you know who cares about the face of the company? NOBODY.


 i just don't think you are making a legitimate distinction between the "company" and the "product" they are the same thing 


> Steve Jobs is to Apple as Barack Obama is to the United States - Replaceable.


... well no, i don't agree, he is irreplaceable ...but he will be replaced 



> Go to the Apple Store tomorrow and tell me if it's vacant or not.


 it will be doing a booming business, i will be there, i bought my first mac in 1987 and have bought just about piece of kit they have made (much to my bank accounts detriment )

i don't think they are going to disappear tomorrow or next year or next decade, but he brought a unique vision to the company

i remember next computer which he started, it was brilliant and it failed but became the basis for OS X ... steve understands end users and average people like no other tech ceo in the world ... he continues to press for simplicity and usability in the face of all opposition and people listen and they follow

all of that will be gone

but yes, apple will survive and for the moment, they will prosper

i just hope this doesn't mean the guy is going to die though i don't see any other explanation


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## Causalien (Apr 4, 2009)

I know you guys are probably sick of my bearishness recently, so I'll be short on this. Today is a sad day and that Steve Jobs is a symbol of hope amongst us Engineer types in the industry. 

Most tech companies don't continue to go up after the founders leave, as a lot of us joins a company for the visions of their leaders. At best, they maintain their market valuation and just chug along, pushing the market with their weight. They stopped innovating because nobody could reproduce the condition of the economy and the strength in character of the founders to push through the nay sayer's disagreement. 

This, in fundamental investing speech, is a game changer event that should prompt you to re-evaluate your position.


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## Abha (Jun 26, 2011)

This is nothing. I thought when Steve left Apple that the stock would tank 10 - 15%

If this is the worst hit it'll take (although I suspect another 3 - 5% downwards tomorrow) then I'm buying more.

Q3 / Q4 are their best quarters hands down and they'll blow away earnings. Plus when the iPhone 5 comes out, everyone will be distracted by that and they'll forget Steve Jobs left as CEO

My theory is that he knows his time is coming and now he really wants to spend all his time on keeping his vision alive and securing his legacy. He can no longer do that as well as serve as a full time CEO.


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## donald (Apr 18, 2011)

If the stock gets hit hard,nobody sees this as a oppourtunity?I hold shares(25)i bought full well knowing jobs health concerns going in,so im not going to sell.

The flip side to this is it could be a gift to establish a long?Nobody sees it this way?


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## fatcat (Nov 11, 2009)

i guess its obvious i am a steve jobs fan, i think he is in his own category, anyway this is interesting to know: 

Ever since rejoining Apple in 1997, *Steve Jobs has been paid a total of $14 for his efforts*, which include the introduction to the market of the iPod, iPhone, iPad and countless other mega-hit devices.

In its proxy filing in January 2011, Apple again confirmed that Jobs was paid a dollar for his 2010 efforts and was awarded no new stock. It also confirmed that he *has not cashed in* any of his roughly 5.5 million shares since 1997.

But that's chump change compared to the estimated $48 million that he has been getting every year in dividends from his 138 million shares of Disney stock.

It's amazing in today's world of mega-compensation for CEOs that Jobs never demanded more monetary recognition for his contributions to Apple. Apple's stock price has risen to make the company one of the largest companies in the world by market capitalization. Jobs turned in 'A+' work but got an 'F' grade on his adult report card throughout his years at Apple.

The January proxy filing also said that the company gave Jobs a jet in 1999 as a bonus. So it's not all bad for the $1 CEO. 

(i think they gave him a gulfstream v which is one of the most sought after private jets in the world and there aren't very many of them in the air)


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## KaeJS (Sep 28, 2010)

Wasn't there an article that said Apple had their product line mapped out until 2017?


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## Abha (Jun 26, 2011)

fatcat said:


> The January proxy filing also said that the company gave Jobs a jet in 1999 as a bonus. So it's not all bad for the $1 CEO.
> 
> (i think they gave him a gulfstream v which is one of the most sought after private jets in the world and there aren't very many of them in the air)


and this was before he did anything special (1999) 

They should give him a massive building like that billionaire in Mumbai


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## ddkay (Nov 20, 2010)

Besides the initial shock/dump this moment was already priced in the stock price, come on, efficient markets etc... Apparently Tim Cook isn't so great with public speaking so Jobs will still do the keynotes/marketing as long as he's alive

Disclosure: no position


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## donald (Apr 18, 2011)

Steve Jobs "I want to put a dent in the universe".


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## PoorPablo83 (Feb 8, 2010)

Hopefully Mr Cook's first move will be to re-introduce the click wheel to the ipod nano . I'm a huge fan of Apple but HATE the new nano with their microscopic touch screen and lack of track forward/previous track buttons. I use mine for running and working out, and I miss the days of just pressing a button in your shorts pocket, sight unseen to flick through songs. None of this unlocking screen, flicking through screen BS. Barely works, especially when your hands get sweaty. I stocked up on 3rd generation nanos from eBay/craigslist when I saw the new roll out .

While all good things must come to an end, I'm sure the company wont start to suffer for a long while. Right now they are invincible, and they have their product pipeline laid out for quite a few years to come still. I can't even think of any other company or product that could even start to challenge them or any one of their products' dominance?


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## steve41 (Apr 18, 2009)

> Steve Jobs has been paid a total of $14 for his efforts


Do you think Apple could get their money back?


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## KaeJS (Sep 28, 2010)

Anybody shorting this tomorrow at 9:30?

Super Risky, but..... could make a lot of money.


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## Abha (Jun 26, 2011)

KaeJS said:


> Anybody shorting this tomorrow at 9:30?
> 
> Super Risky, but..... could make a lot of money.


I'll be ready to capture the short squeeze for any of you cowboys willing to short Apple.


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## gibor365 (Apr 1, 2011)

I thing AAPL is a good buy if it drops tomorrow to 330. The problem is whit Bernacke speech on Friday. If he won't nothing encouraging, AAPL could drop much more


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## Banalanal (Mar 28, 2011)

Could see AAPL as a good trade buying tomorrow morning if it's down ~5% and selling in the short term once recovered or after its next earnings report...


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## Dmoney (Apr 28, 2011)

I'm more worried that sales of turtlenecks will plummet. This could be an opportunity to short any turtleneck manufacturers out there.

This really shouldn't have any impact on the business and its value. Do you really believe that Jobs created all the Apple products that have been so successful? What Jobs did was create an image and a lifestyle, and at this point it will carry on. 

It doesn't take a creative genius to come out with the iPod 14 or the iPhone 5 or the iPad 3.... or the Macbook SuperDuper Pro.... as long as people are still convinced that it's worth paying twice as much for an Apple product, the business model will stay alive.


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## Abha (Jun 26, 2011)

Dmoney said:


> I'm more worried that sales of turtlenecks will plummet. This could be an opportunity to short any turtleneck manufacturers out there.
> 
> This really shouldn't have any impact on the business and its value. Do you really believe that Jobs created all the Apple products that have been so successful? What Jobs did was create an image and a lifestyle, and at this point it will carry on.
> 
> It doesn't take a creative genius to come out with the iPod 14 or the iPhone 5 or the iPad 3.... or the Macbook SuperDuper Pro.... as long as people are still convinced that it's worth paying twice as much for an Apple product, the business model will stay alive.


..and if someone else is out-innovating apple, then simply buy up all the competition with that 80 billion in cash.

This is as solid a company as can be.


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## fatcat (Nov 11, 2009)

> It doesn't take a creative genius to come out with the iPod 14 or the iPhone 5 or the iPad 3.... or the Macbook SuperDuper Pro.... as long as people are still convinced that it's worth paying twice as much for an Apple product, the business model will stay alive.


 that's precisely the issue ... it doesn't take a creative genius to build on what is already in place ... it does take a creative genius to invent an entirely new category .... plenty of companies will be copying and improving on ipod and iphones and ipads ... the reason apple is where it is is because they continue to produce groundbreaking paradigm changing products (and they do a have an incredible manufacturing process i will grant you that .. the best in the world for end-to-end electronic building)

look at sony, they are a perfectly good parallel ... they build excellent high-quality electronics that they continue to refine but where are they now ? ...going sideways, nobody, nobody looks at sony as the leader anymore, they are yesterdays news

this can happen very quickly in the electronics business

it's all about the new ...


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## andrewf (Mar 1, 2010)

"(and they do a have an incredible manufacturing process i will grant you that .. the best in the world for end-to-end electronic building)"

?

Apple doesn't do any manufacturing. They are a marketing-design-software company.


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## Abha (Jun 26, 2011)

andrewf said:


> "(and they do a have an incredible manufacturing process i will grant you that .. the best in the world for end-to-end electronic building)"
> 
> ?
> 
> Apple doesn't do any manufacturing. They are a marketing-design-software company.


They secure the supply and components and the technology allowing for the manufacturing, thus excluding the rest of the industry from copying them for a lengthy period of time.


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## fatcat (Nov 11, 2009)

> Apple doesn't do any manufacturing. They are a marketing-design-software company.


 not sure what you mean ? .. they build and sell pcs, ipods, ipads and so on ... they own their own chips, they have some of the best quality control in the world and produce the most reliable computers in the world 

if you mean they don't own their factories, yes, they do contract in china but then everyone contracts in china

but apple oversees the entire process from start to finish

from this article in slate.com: http://www.slate.com/id/2302388/


> You can see this in just about every aspect of its business. Take, for instance, the brutal efficiency of its production line. Apple used to be derided as a maker of well-designed, overpriced baubles. Under Jobs and Tim Cook—the former chief operating officer, now the CEO—*it has mastered the global production process in a way that no other company can match. Apple makes more devices, at lower cost, with fewer defects than any other firm in the world. And it does this year after year, on a schedule so strict we follow it with the seasons (iPhones in the summer, iPods in the fall, iPads on the spring). As a result, Apple can now beat most of its competitors on price and profit.*


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## fatcat (Nov 11, 2009)

great article in the new york times that shows some of the 325 patents that have steve jobs name on them

the apple vision: http://www.nytimes.com/interactive/...steve-jobs-patents.html?src=ISMR_HP_LO_MST_FB

virtually all of this stuff just copied by the rest of the industry ...


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## andrewf (Mar 1, 2010)

Apple designs devices. They don't make the components (Samsung, etc.), they don't do assembly (Foxconn). Sumsung is a manufacturer, Apple is not.

I think it is good strategy for Apple not to do manufacturing and stick to design. Design is high value-added, manufacturing generally is not. I'm not trying to start a flame fest or anything.


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## Argonaut (Dec 7, 2010)

Lost in the talk about manufacturing is the fact that Apple's stock wasn't affected at all in regular trading today, in fact outperforming the market. Really proves that we are in a macro-driven market right now, with company news unimportant until things are "back to normal", whatever that is. S&P 500 drops 1.6% today, which elicits nothing more than a yawn from volatility-desensitized investors. CAT could announce they are switching their name to DOG tomorrow, and the stock would still pop if QE3 is announced.


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## KaeJS (Sep 28, 2010)

Argonaut said:


> CAT could announce they are switching their name to DOG tomorrow, and the stock would still pop if QE3 is announced.




Funny.


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## ddkay (Nov 20, 2010)

These protracted declines and gyrations are nerve wrecking. I say the market crashes between tomorrow and Tuesday, just because of the patterns I'm seeing and there's so much pressure building up from the last few weeks


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## Abha (Jun 26, 2011)

ddkay said:


> These protracted declines and gyrations are nerve wrecking. I say the market crashes between tomorrow and Tuesday, just because of the patterns I'm seeing and there's so much pressure building up from the last few weeks


I also am anticipating a retest of the lows and possibly an even lower leg down depending on what is said tomorrow by the Fed.


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## fatcat (Nov 11, 2009)

...


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## ddkay (Nov 20, 2010)

fatcat, I don't know if that picture is real or not but it's horrific to watch a person die. Paparazzi's suck, I wish people would give him some privacy when he needs it most.


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## fatcat (Nov 11, 2009)

i took it down , i shouldn't have posted it

i am pretty certain it is real (say what you want about tmz but they have a lot at stake in making sure their photos are genuine however tasteless people might think them to be)

it strikes me as so sad, yet i don't know why i am surprised
it all makes sense now because jobs would never give up if he didn't have to
he resigned only because the end is near and the bit about staying on as chairman was either he fooling himself or a head fake to the rest of us

so sad to see him in such a weakened and dependent state


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## andrewf (Mar 1, 2010)

That photo looks doctored to me. If Jobs is that sick, I doubt he would have held on as chairman unless he intends to die in the chair.


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## Abha (Jun 26, 2011)

andrewf said:


> That photo looks doctored to me. If Jobs is that sick, I doubt he would have held on as chairman unless he intends to die in the chair.


Might be a symbolic gesture so as to hold his place at Apple.

He doesn't look well but pictures can be deceiving. In any case, I don't think anyone here or anywhere can qualify his health based on one photo.


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## andrewf (Mar 1, 2010)

Pancreatic cancer, however, is a *****. It has a very high mortality rate.


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