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Steve Jobs resigns as Apple CEO

Steve Jobs resigns as Apple CEO on Wednesday afternoon, citing that he is no longer able to meet the duties and expectation as Apple’s CEO. He however would like to stay on as Chairman of the Board and recommend Tim Cook as his successor.

Quoting from the Letter Steve Jobs wrote: “I have always said if there ever came a day when I could no longer meet my duties and expectations as Appleā€™s CEO, I would be the first to let you know. Unfortunately, that day has come.”

I know that this post is totally irrelevant, but i thought, i would like to share my views on this. I have been an Apple fanboy even since i touched and own my first MacBook merely 3 years back. The question many will have is definitely, why now? Why the resignation only now, since Steve have been on medical leave since January and have appeared publicly for major Apple’s events.

This is not a complete analysis, i will post it again when i can find the time.
But i believe that Steve have been planning this move for quite sometime, and have considered Wednesday for the most appropriate date, having observed APPL. APPL have reached it’s peak, to become the world’s most valuable company. Have billions of cash on hand. Have set record profit in all the past many Quarters. Wednesday is really the best time, having see APPL stablised at it’s peak.

Even if the stock is to crash, it can’t go too far, and will recover very quickly come Sept/Oct where you will be having it’s major announcement on new iPod, iPhone or other iDevices. APPL will definitely hit it’s new peak then. I would like to observe APPL for the next 2 days and monday, and we can see how the market is reacting. But my take, it’s too valuable for any serious invested to sell now just because Steve Jobs resigned.

You know, it maybe the case only a few months back, should Steve have resigned, the market will definitely reacted quite bullishly. His move on being absence for more than 6 months, is simply to prove to the market that, “Hey! Apple can go on as great, without me!”, while he work the succession plans for Tim internally.

Pretty smart move. But Steve, we will definitely miss you lots, you will be always remembered as the legendary one :)
However, still looking forward to even more amazing products from Apple.

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