Apple (AAPL) Sell-Off Only Muted After Steve Jobs’ Resignation

[brooklynite]

Source: Wall Street Pit

US stock futures are marginally higher this morning as they look to continue their rally into Friday’s Fed announcement from Jackson Hole. The big story overnight was obviously the resignation of Apple CEO Steve Jobs. The visionary leader of the world’s 2nd biggest company (by market cap) has been largely responsible for the rise of a retail empire. His creative brilliance has come to create and define market segments, from mp3 players to smartphones to tablet computers.

Many forecast a “Steve Jobs crash” the day that he left his position with Apple (AAPL), but in fact the reaction has been rather muted. The stock was down around 5% last night when the news broke, but this morning investors are aggressively buying the dip and the stock is now down only 1.5%. Jobs’ ill health and possible resignation seemed to be baked into the stock price to some degree, and now clarity on the situation could free it to make a big run. On a fundamental level, AAPL is extremely undervalued.



Read more: http://wallstreetpit.com/82463-apple-aapl-sell-off-only-muted-after-steve-jobs-resignation

[Firebrand Gary]

1. The new Apples headquarters breaks ground next year, Iphone 5

is about to come out. Apple is going to be just fine.

[cstanleytech]

2. Yup they will be fine as long as they can avoid putting people in charge like those who

almost led the company into insolvency back in the late 80s/ early 90s.

[onehandle]

3. In one year Apple stock is projected to be worth as much as 50% more. nt

[jimlup]

4. It's not Jobs who is driving the market today it is jobs!

The unemployment report - once recognized is the real force behind the market numbers today.

[KamaAina]

5. Here in SiliValley, we're basically at Defcon 4

The local rag, the San Jose Mercury News, ran a full-page cover with Jobs' profile in shadow and an NY Post-style all-caps headline: "Jobs' Exit Means End of an Era".

[Sen. Walter Sobchak]

6. My girlfriend knows some guys there who have nothing good to say about Cook

Having been the brains that placed Apple at the mercy of cartel like contract manufactuers for everything who are and will probably remain to be a source of terrible PR and poor product availability.