Put down the mouse and cancel that sell order. Jobs or not, Apple is going nowhere. Smart money would place a buy order when the stock price dips tomorrow as the day traders react to the resignation news.
Here are five good reasons to retain your faith in Apple sans Steve:
1. There is no Cola-War executive running the show this time. Last time Steve left Apple, the Board of Directors put John Sculley at the helm of the ship. The Amazing Sculley with a wave of his wand transformed the tech company into the Exxon Valdez. This time around Steve Jobs has been replaced with Tim Cook, the COO, who has been with Apple since 1998, and has been groomed to take over since Steve’s health started to deteriorate.
2. Steve Jobs is one of the largest shareholders of Apple stock. The last thing Steve or anyone else in the Apple boardroom wants to see is a drop in share price. I wouldn’t be surprised to see a new product launch in the near future as part of Steve’s exit plan and a deliberate attempt to boost stock price.
3. 76 Billion Dollars. The amount of Apple’s cash reserves on hand, enough said.
4. iPhone. The Apple smartphone is the single most popular device in U.K. (http://goo.gl/pPD6U) and U.S. (http://goo.gl/QF6Zd). Having the most popular Smartphone in the free world is a huge advantage that Tim Cook will not squander.
5. Life in the Cloud. The impending launch of iCloud will change the way people access, store and share data. iCloud will be another 1984 for Apple, a complete paradigm shift in the way computer users interact. [image via Geek.com]