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Thursday, August 25, 2011

Cut Off the Head...

and the body dies. That is what Apple is figuring out this morning as their stock plummets after uber-CEO Steve Jobs resigned yesterday. Jobs resigned to focus on being Chairman of the Board of Trustees for Apple.

From the Hollywood Reporter:
NEW YORK - Shares of tech giant Apple were down only slightly in early Thursday trading, following late Wednesday's news that Steve Jobs resigned as CEO.

As of 9:45am ET, Apple's stock was trading at $369.79, down 1.7 percent, less than a third the 6 percent drop in Wednesday after-hours, which had signaled a loss of about $18 billion in market value. The early morning trading gave Apple a market capitalization of about $348.8 billion, according to Bloomberg.

Analysts had said Wednesday evening that not much should change at Apple overnight with Jobs' decision to focus on the chairman role.

People are idiots. Steve Jobs is not the only person who makes Apples a powerhouse company. Having a different CEO won't weaken Apple whatsoever. He's still chairman of the board and has tons of say in the running of the company. But all these Apple people are like "Oh no, Overlord Jobs has resigned, we are doomed!"

How's it feel to lose $18 billion?

I mean what company loses it's CEO without a scandal and loses 18 BILLION? Only fucking Apple. this is the drawback of having a charismatic CEO who has a cult-like following. He has to leave eventually and you're fucked for 18 billion bucks on day one. Suck it Apple.

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