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AAPL shares: Jobs' resignation changes nothing

Christian Science Monitor - Aug 25, 2011

Although Apple shares were trading slightly lower Thursday, after falling 7 percent in after-hours trading on Wednesday, Steve Jobs' departure from his CEO role at the tech company will not materially affect the company, one analyst believes.

"I don't think this changes anything," Jason Maynard, analyst and managing director at Wells Fargo, told CNBC. "I don't think it's going to change product strategy. I don't think it's going to change how they allocate capital. I think Apple's going to keep being Apple, which is make amazing products."

Jobs resigned as CEO on Wednesday in a brief letter in which he named his successor, Tim Cook, who has stepped in as interim CEO numerous times while Jobs battled pancreatic cancer. Jobs will remain chairman of the tech giant's board.

Maynard compared Jobs' departure to the retirement of basketball superstar Michael Jordan. Although neither is replaceable, he said there is no reason why Apple cannot carry on its same vision with Jobs as chairman and the "world-class talent" that work at the company.

Read Full Article from Christian Science Monitor

- Posted: 2011-08-25 14:26:44

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