Apple shares down slightly after Jobs resignation
Shares in Apple fell only slightly in early trade today in the wake of the stunning announcement of the resignation of the company's founder and visionary Steve Jobs.business Updated: Aug 25, 2011 19:45 IST
Shares in Apple fell only slightly in early trade on Thursday in the wake of the stunning announcement of the resignation of the company's founder and visionary Steve Jobs.
Apple's shares were down 1.76 % in the first 30 minutes of trade to $369.56, after having dropped as much as 5.3 % from Thursday's close in after-hours trade overnight after the announcement.
Apple, the world's second largest company by market valuation, gave no reason for Jobs' departure as chief executive, but he appeared to allude to longstanding serious health problems when he told employees in a statement that he could no longer meet his duties and expectations.
He will become chairman of the board of directors.
But after three decades as Apples' visionary leader, his departure raises questions over the company's ability to build on such hit consumer electronic products as the Macintosh computer, the iPod, iPhone and most recently the iPad tablet.
First Published: Aug 25, 2011 19:43 IST