Sreve Jobs Resigns As Apple CEO

[Joemailman]

http://www.reuters.com/article/2011/...77N82K20110824

Effective immediately. Apple stock is down 5% in after hours trading.

o the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come.

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.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple's brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

[mraynrand]

Good Luck, Sreve!

[Little Whiskey]

no wonder partial left. he was getting ready to take over apple. maybe his real name is tim cook.

[easy cheesy]

Good Luck, Sreve!

Sreve Ballesteros is in our prayers....LOL .... IT'S A GOLF JOKE PEOPLE AS WELL AS THE "APPLE" OF OUR EYE....trying to make fun of a fucked situation, lame attempt at humor... FORE...."Fore" is another word for "ahead" (think of a ship's fore and aft). Yelling "fore" is simply a shorter way to yell "watch out ahead" (or "watch out before"). It allows golfers to be forewarned, in other words. )


and oh... by the way... FUCK CANCER...

[retailguy]

no wonder partial left. he was getting ready to take over apple. maybe his real name is tim cook.

Today, I picture him in the bomb shelter with provisions waiting it out. This is why I never "guarantee" anything related to the market. Will it be a permanent setback? No way to know, however, this is NOT the first time that Jobs resigned. The last time did not go so well for Apple.

[red]

Today, I picture him in the bomb shelter with provisions waiting it out. This is why I never "guarantee" anything related to the market. Will it be a permanent setback? No way to know, however, this is NOT the first time that Jobs resigned. The last time did not go so well for Apple.

i'm guessing he hung himself as soon as the rumors went out. that or he's out shooting up apple stores

[Patler]

Everyone knew it was coming. The market pretty much took in in stride because most who have invested in AAPL have known this would happen very soon. Apple has been transitioning to it fora while, leaving the exact date up to Jobs. He remains the Chairman, I expect until he is no longer with us. That might be when a stronger market reaction occurs.

[retailguy]

Everyone knew it was coming. The market pretty much took in in stride because most who have invested in AAPL have known this would happen very soon. Apple has been transitioning to it fora while, leaving the exact date up to Jobs. He remains the Chairman, I expect until he is no longer with us. That might be when a stronger market reaction occurs.

I agree with this. You don't have to be a doctor to see something is wrong. Seriously wrong. Even before the media reports came out. Apple has been planning for his demise, as they should be. But, didn't they plan last time too? He didn't just vanish one day. Yes, he remains chairman, and certainly will have that role as long as he is alive. But there won't be a comeback this time. He's too sick for that.

They have a good product line, and hopefully a good CEO to step in. I don't know, I was just commenting on the past, and that the only certainty in the market, is that there is NO certainty. Just ask Sears, Montgomery Wards, lehman Brothers, Enron, Worldcom, Conseco. Those are recent and/or just off the top of my head. there are hundreds more "sure things" no longer with us, as I'm sure you and most of the rest of us know.

[Scott Campbell]

no wonder partial left. he was getting ready to take over apple. maybe his real name is tim cook.

.........yeah, you heard me right. I said I want to short 10 million shares of APPL.

[Joemailman]

Greatest comeback ever?

[Patler]

I agree with this. You don't have to be a doctor to see something is wrong. Seriously wrong. Even before the media reports came out. Apple has been planning for his demise, as they should be. But, didn't they plan last time too? He didn't just vanish one day. Yes, he remains chairman, and certainly will have that role as long as he is alive. But there won't be a comeback this time. He's too sick for that.

They have a good product line, and hopefully a good CEO to step in. I don't know, I was just commenting on the past, and that the only certainty in the market, is that there is NO certainty. Just ask Sears, Montgomery Wards, lehman Brothers, Enron, Worldcom, Conseco. Those are recent and/or just off the top of my head. there are hundreds more "sure things" no longer with us, as I'm sure you and most of the rest of us know.

This has been in the works ever since his liver transplant two years ago. It was common knowledge that his health was problematic for 6 or 7 years. He has been on a medical leave of absence for all of 2011. I think his departure as CEO has been factored in by investors already, since he hasn't actually been doing the job for the better part of three quarters..

I agree that nothing is guaranteed. In fact I argued that exact thing with Partial, because while AAPL has done well for sometime, truth be told, the stock price has actually lagged the company's performance. In the long run, that is a bad sign. But AAPL should be fine for a while. Their products are strong, their markets are expanding and they have a huge amount of cash. It will take a few product failures to reverse their position Eventually that will happen again, just as it did to AAPL in the past. It wasn't that long ago that they appeared to be dead, or close to it.

The company is prepared to continue without Jobs. Investors have understood the inevitability of his situation, so there was no shock effect today. They are well positioned for their immediate future. The uncertainty will come when their next generation of products runs out, the last that Jobs will have directly influenced. It remains to be seen if there are successors to his understanding of what consumers will want. That is where Jobs will be missed, and the effect will be down the road.

On a side note, I believe the last time Jobs "left" he was forced out. I don't think it was well planned at all. He came back as a result of AAPL buying out the company Jobs started after AAPL,which had not done particularly well.

[Little Whiskey]

The company is prepared to continue without Jobs.

isn't this what the gov't is trying to do?

[easy cheesy]

isn't this what the gov't is trying to do?

Good point ...LOL... sidebar... graveyards are full of "indispensable" people.... (that's a shout out to all of my narcissistic personality disorder peeps..I knew a few)... God bless... I think that Paul Allen is on the same train...

[Partial]

Tim Cook has been running the show for years anyway. I've been a huge advocate of Johnny Ive and belief that as long as he's there for industrial design, they'll continue to be bleeding edge there. I would have to think Apple has at least 5 years of dominance left. Surely they have the vision for the next 2-3 years mapped out, and I definitely think it will merge iOs and Mac OS into OS 11. iOs is such a great platform to develop for, it's so ridiculously easy, I would be ecstatic if this came to fruition.

Having said that, buy all of the AAPL you can right now. It's ridiculously under valued. The race to 600 is under way!

Now that iPhone 5 is basically confirmed on all US carriers, expect the suffocation of Android to begin. Non-nerds won't buy that garbage over a beautiful iPhone.

[MJZiggy]

Tim Cook has been running the show for years anyway. I've been a huge advocate of Johnny Ive and belief that as long as he's there for industrial design, they'll continue to be bleeding edge there. I would have to think Apple has at least 5 years of dominance left. Surely they have the vision for the next 2-3 years mapped out, and I definitely think it will merge iOs and Mac OS into OS 11. iOs is such a great platform to develop for, it's so ridiculously easy, I would be ecstatic if this came to fruition.

Having said that, buy all of the AAPL you can right now. It's ridiculously under valued. The race to 600 is under way!

Now that iPhone 5 is basically confirmed on all US carriers, expect the suffocation of Android to begin. Non-nerds won't buy that garbage over a beautiful iPhone.

Last weekend, the guy at the Verizon store showed me an iPhone. I bought an HTC Thunderbolt.