Analysts Remain Bullish on Apple, Because Jobs Built A Solid Team

Steve Jobs and Tim CookJust one month ago, we published an article entitled Apple’s Said to Be Looking For A Steve Jobs Successor. We couldn’t believe this was true, so we said it was just another rumor. Last night we learned that Jobs will indeed resign as CEO. While we don’t know the reasons, we have to guess his health might be one of them.

Steve Jobs co-founded Apple in the late 1970s, and invented and reinvented a lot of things: Macintosh, iPod, iPhone, iPad. And let’s not forget the ground-breaking Apple II. His successor, Tim Cook, was responsible for the company’s worldwide sales and operations and until now was also the head of the Macintosh division.

Jobs isn’t leaving Apple completely: He remains Chairman of the Board.

Still, his decision has already begun to hit Apple. Its stock price dropped 5 percent just hours after the announcement. Forbes says “the impact will be felt in a negative way beyond Apple, including Walt Disney where Jobs is also director.”

Still, that’s a short-term issue. Forbes also says most analysts on Wall Street will remain bullish on Apple.

The bull case is simply this: Steve Jobs has built an impressive management team and product creation process that will carry on for many years to come. While we in the media tend to position Steve as the personification of Apple, the truth is that the company is the product of thousands of talented engineers, designers and managers. Losing Steve as CEO will be painful, and the stock could stumble in the short run, but in some ways, not much has changed.

Source: Apple here and here

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