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-   -   Steve Jobs steps down as CEO of Apple (http://www.raptorsforum.com/f/f9/steve-jobs-steps-down-ceo-apple-20988.html)

Dark Knight 08-24-2011 09:39 PM

Steve Jobs steps down as CEO of Apple
 
:reporter:

Quote:

The end of an era came Wednesday evening when Steve Jobs stepped down as CEO of Apple. Forbes Brian Caulfield has the story here, which includes the naming of Tim Cook, who has filled in for Jobs twice during medical-related leaves of absence including the current one, as CEO.

Jobs expressed his desire to remain as chairman of Apple’s board, a request his fellow directors will almost certainly honor. On Thursday the market reaction to the news, and the response from the Apple bulls, who have sent shares of the iPod, iPhone and iPad-maker on a dizzying run over the last several years, will be interesting to watch.

After-hours, following a halt on the news, shares of Apple dropped 5%, or $20.18, to $356.
Steve Jobs Steps Down, Apple Shares Drop 5% After-Hours - Forbes

jeffb 08-24-2011 09:58 PM

isn't he dying?

Windex 08-25-2011 01:39 AM

Quote:

Originally Posted by jeffb (Post 567380)
isn't he dying?

aren't we all :cookie:

Toby 08-25-2011 06:52 AM

well maybe they can start making affordable products now. Apple really needs to look around, they should be dominating, not hangin' around at 4th or 5th.

jeffb 08-25-2011 07:49 AM

Quote:

Originally Posted by Windex (Post 567426)
aren't we all :cookie:

I was waiting for someone to say that. Lol

But I believe he has cancer, must have something to do with him stepping down.

Shadowfax 08-25-2011 10:59 AM

Quote:

Originally Posted by jeffb (Post 567445)
I was waiting for someone to say that. Lol

But I believe he has cancer, must have something to do with him stepping down.

pretty sure he's been battling pancreatic Cancer for a couple of years now...Apple stock is in for a rough ride the next few months

6cubed 08-25-2011 03:26 PM

About time... the guy is going to kill himself overworking. He should've taken a more indirect consulting role like 6 years ago.

He's been sick numerous times and has had serious operations. Time for someone younger to take the reigns.

At least the shareholders aren't taking a beating on this news. AAPL is only down 1% in the last 5 trading days (although S&P is up ~3.5% in the same time).

Superjudge 08-25-2011 03:31 PM

Is he in charge of marketing?

because really, thats the real genius in a company that isn't really any better than any of its competitors.

Dude did a lot though...kudos to him.

jeffb 08-25-2011 03:54 PM

Quote:

Originally Posted by Mr. Mxyzptlk (Post 567463)
pretty sure he's been battling pancreatic Cancer for a couple of years now...Apple stock is in for a rough ride the next few months

mehh, they'll be fine. they own 74% of the market share when it comes to tablets, they own 35%of all smart phone sales and the iphone 5 is coming out in a couple months. the stocks will go down a bit at first, but they'll continue to make a killing.

6cubed 08-25-2011 06:05 PM

Quote:

Originally Posted by Mr. Mxyzptlk (Post 567463)
Apple stock is in for a rough ride the next few months

You can test that hypothesis in the markets.

I disagree with the pessimism considering that the premiums on AAPL options aren't that expensive for a 1.3 beta tech stock.

Chiggmo 08-25-2011 09:54 PM

I hate apple so who cares :cookie:. Sorry I felt inclined to say that.

Claudius 08-25-2011 10:21 PM

Quote:

Originally Posted by Superjudge (Post 567524)
Is he in charge of marketing?

because really, thats the real genius in a company that isn't really any better than any of its competitors.

Dude did a lot though...kudos to him.

Every company that does well has great marketing.....that's why they do well.

The big thing is he's usually the first to the market with a new product and sets the standard.

thought 08-25-2011 10:46 PM

Quote:

Originally Posted by Superjudge (Post 567524)
Is he in charge of marketing?

because really, thats the real genius in a company that isn't really any better than any of its competitors.

Dude did a lot though...kudos to him.

He's a genius salesman. He'll get up in front of a crowd of techies and sell 4-5 year old technology with a couple tweaks and pass it off as new and revolutionary, while having everyone in the crowd kiss his feet and praise him as the messiah. That in and of itself is marketing.

And like claudius mentioned, apple consistently exercises the first-mover advantage in the market. That's huge in the tech business. It's why blackberry is now in the shitter.

LX 08-25-2011 11:09 PM

I think more important than anything is the attention paid to design. A fair bit of that tied into Jobs' vision. It wasn't there when he got pushed out. Technology can be magical, but unless you make the magic stand out, it can feel pretty banal. He has a good intuitive sense on how to incorporate the magic touches in design, and then he sells the magic like crazy. It'll be interesting to see how much of that carries on 5 years from now.


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