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[StuBurns]

I knew about the whole 'three products' thing, but I'd never actually seen this presentation, some serious smack talk Jobs is laying down. The iPhone was incredible, so I can see why, but it's pretty damning stuff.

 

[AstroLad]

you can always count on gruber to bring a good laugh even to somber and serious proceedings

 

[mjfor40]

I wonder if that liver Jobs brought was still under warranty?

Pretty apparent that you are an awful person

 

[Phoenix]

Alright Apple, it's my time to shine. Make me your new CEO, my monthly pay will be $500,000 please.

Great deal amirite. ?!

Given that Steve Jobs' salary was $1 - not really

 

[Synth_floyd]

So is Jobs going to die soon, or did he just have an extreme change of heart about the direction of his life and decided to focus on non-work (i.e. non-Apple) stuff?

 

[Koodo]

No way, man. I'd be looking forward to the new Android phones.

Why is a picture of Moraine Lake gracing such a tacky phone? Please stop defiling my mountains.

 

[a Master Ninja]

iSad

 

[Buddha Beam]

we’d all be looking forward to the new blackberries

No, No. We'd all still be using shitty phones from LG and the like, balking at expensive data plans for smart phones that had such awful browsers and weresuch an awful experience, you'd wonder how it could possibly be worth $40 bucks a month.

We'd also still be lamenting how much better Japanese phones are and how they can do so much more!

 

[StuBurns]

So is Jobs going to die soon, or did he just have an extreme change of heart about the direction of his life and decided to focus on non-work (i.e. non-Apple) stuff?

Well his note says he can't work, not that he doesn't want to, so yes, he is probably dying.

 

[Tobor]

I know we’re joking around but I honestly think BB would’ve killed Android in that form.

I hadn't thought about that. You might be right. Also, what would have happened to Microsoft without the pressure to nuke Windows Mobile and start over?

 

[Xun]

So is Jobs going to die soon, or did he just have an extreme change of heart about the direction of his life and decided to focus on non-work (i.e. non-Apple) stuff?

No one knows.

But either way it's related to his health.

 

[NinjaFridge]

So is Jobs going to die soon, or did he just have an extreme change of heart about the direction of his life and decided to focus on non-work (i.e. non-Apple) stuff?

He probably doesn't want to spend the rest of his life working, and would rather spend it with family, friends and laughing at poor people with Bill Gates.

 

[vaelic]

all downhill from here

 

[Buckethead]

NOOOOOOOOOOO

Get well Steve.

 

[Korey]

Sure - its called irrational market theory and has been around in finance for quite some time and illustrates pretty cleanly that the market moves of large drops happen before major news announcements. This is a topic discussed in the MBA real on efficient and irrational markets.

So you're saying that tomorrow, AAPL won't be closing significantly far from where it closed today correct? Because it was already priced into the market before the announcement was made.

 

[LCfiner]

Who remembers this? :/

http://www.pcmag.com/article2/0,2817,1977363,00.asp

yeah, sure, I remember that a bit. not the specific details of the handover, but the whole lead up and press coverage.

The thing that gets me (and I suppose most people in here) about the Jobs resignation is that it is related directly to his poor health.

when the news broke about his resignation, my first thought was about how sick he must be to have to do this. it makes this a much more somber story.

 

[Cruzader]

Him and Kutaragi will join forces for ps4 confirmed.

 

[Amagon]

The end is nigh

 

[NinjaFridge]

yeah, sure, I remember that a bit. not the specific details of the handover, but the whole lead up and press coverage.

The thing that gets me (and I suppose most people in here) about the Jobs resignation is that it is related directly to his poor health.

when the news broke about his resignation, my first thought was about how sick he must be to have to do this. it makes this a much more somber story.

Has he said anything about giving his money away when like Gates and Buffet?

 

[xbhaskarx]

Damn, that sucks...

 

[Plasmid]

he's staying on as chairman, neat.

Is this due to his illness(es)?

 

[Phoenix]

So you're saying that tomorrow, AAPL won't be closing significantly far from where it closed today correct? Because it was already priced into the market before the announcement was made.

No irrational market theory says that the large volume of investors had already taken into account that Steve Jobs would be leaving the company and Tim Cook would be taking over a LONG time ago - this isn't a huge surprise to them. The price they are willing to pay for the stock is based upon this knowledge so there is no mass panic selling due to this news because it is expected. There are irrational behaviors associated with the transition, but the fundamentals of the company and the stock have not changed. As such the swing will be right where it was before the other major news item - Sprint, something the market is pricing into the stock. Irrational market theory goes into great detail on why things like timing the market, selling immediately on 'bad news' etc. are actually counter to rational efficient moves of the market.

I wrote a long paper on it, specifically with respect to Apple while getting my MBA titled "A Steve Jobs a day keeps competitors away?" about 3 years ago that examined the market moves based on the news of Steve's departure and where the major market players actually came in as bargain hunters some days later and the stock was back where it was supposed to be. If you track all of the Steve Jobs medical leave stock announcements you'll find damn near the same 5% trend by irrational investors and shortly thereafter the stock rebounds - even though Steve is not at the helm and Cook is in charge. There are institutional investors who are more stable who have more sense and panic selling day traders who generally make dumb ass moves like this one.

 

[LCfiner]

I hadn't thought about that. You might be right. Also, what would have happened to Microsoft without the pressure to nuke Windows Mobile and start over?

MS would still have had the same marketshare in the business world and would have done nothing for a long time. kinda like how XP and IE6 sat, unchanged, for years.

And I think Buddha beam is right in that we’d be coveting cool japanese built phones more. but because they’d have this fiddly, inspector gadget quality about them.

Can anyone come up with a credible contender for a company that would have introduced a full screen, multitouch, consumer oriented smartphone? I seriously can’t think of one. all those companies said Apple was gonna fail with the iPhone. none of them wanted to make something like it.

 

[scoobs]

when the iphone5 comes out, nobodys gonna care... everyone will buy it and apple will continue to swim in money

 

[Raistlin]

Holy shit ... end of a fucking era



No matter how you feel about Apple or Jobs, you can't argue with his influence on the computer and CE industry.



First Bill, now Steve. My childhood weeps Hell, their influence is in part what directed my career.

 

[BolognaSoup]

Holy shit ... end of a fucking era



No matter how you feel about Apple or Jobs, you can't argue with his influence on the computer and CE industry.



First Bill, now Steve. My childhood weeps Hell, their influence is in part what directed my career.

and the movie industry (Pixar) or the music industry

 

[Lunchbox]

sell all your stocks baby, its over

time to load up on google

 

[DjangoReinhardt]

Sad news. Guy had an amazing career. I hope he's able to enjoy the time he has left.

 

[Bboy AJ]

Tim Cook is the best replacement, IMO. I wouldn't sweat Apple losing their vision under his command. I like Jonathan Ive but he's not a spotlight kind of guy. Apple is Apple because of their people.

Pretty shocking that this was done in the middle of the week. Even more shocking that the stock is only down 5% right now. That's nothing for this kind of news. I'm laughing thinking about a guy borrowing AAPL shares every Friday morning, hoping to short it, only to find out Apple did this on a Wednesday. You know someone out there did it and got fucked.

 

[StuBurns]

Was the iPhone the first phone that had voice mail the way it does? And text messages as it is, with them per line like that?

 

[BolognaSoup]

Tim Cook is the best replacement, IMO. I wouldn't sweat Apple losing their vision under his command. I like Jonathan Ive but he's not a spotlight kind of guy. Apple is Apple because of their people.

Yep. Ive will continue to lead the design of all the products that got them to this point. iPhone, Air, etc.

 

[NinjaFridge]

Was the iPhone the first phone that had voice mail the way it does?

Visual Voicemail? No, but it made it more popular.

 

[foodtaster]

No irrational market theory says that the large volume of investors had already taken into account that Steve Jobs would be leaving the company and Tim Cook would be taking over a LONG time ago - this isn't a huge surprise to them. The price they are willing to pay for the stock is based upon this knowledge so there is no mass panic selling due to this news because it is expected. There are irrational behaviors associated with the transition, but the fundamentals of the company and the stock have not changed. As such the swing will be right where it was before the other major news item - Sprint, something the market is pricing into the stock. Irrational market theory goes into great detail on why things like timing the market, selling immediately on 'bad news' etc. are actually counter to rational efficient moves of the market.

I wrote a long paper on it, specifically with respect to Apple while getting my MBA titled "A Steve Jobs a day keeps competitors away?" about 3 years ago that examined the market moves based on the news of Steve's departure and where the major market players actually came in as bargain hunters some days later and the stock was back where it was supposed to be. If you track all of the Steve Jobs medical leave stock announcements you'll find damn near the same 5% trend by irrational investors and shortly thereafter the stock rebounds - even though Steve is not at the helm and Cook is in charge. There are institutional investors who are more stable who have more sense and panic selling day traders who generally make dumb ass moves like this one.

So to summarize- the influential, big investors already take such things into account and as such there will never be large fluctuations in the market due to such? And additionally, any fluctuations in the market will be quickly reversed? Pretty interesting stuff. Where'd you get your MBA from?

 

[LyleLanley]

Just saw this and...holy shit!

 

[Seraphinianus]

iQuit

 

[Phoenix]

when the iphone5 comes out, nobodys gonna care... everyone will buy it and apple will continue to swim in money

Ding. Any investor with half a brain knows that in the mid term Steve leaving will have absolutely no impact on the company's profitability and they will come in and snap up the 'cheap seats'. The only time you really sell is when the fundamentals of Apple change. Apple has been rising during a recession, during down turns, during rumors of Jobs being dead, etc. News items at most represent a temporary dip before people realize that its still the same company in the morning that it was the night before - and while the long term sustainability of their strategy may change due to Jobs' departure in the mid term there is nothing but profit potential.

 

[happyfunball]

he's staying on as chairman, neat.

Is this due to his illness(es)?

Most likely due to a recurrence of his pancreatic cancer. A recurrence that is also likely due to the immune suppressive drugs he has been taking after the liver transplant that saved his life. Awful and tragic situation.

 

[scorcho]

Sure - its called irrational market theory and has been around in finance for quite some time and illustrates pretty cleanly that the market moves of large drops happen before major news announcements. This is a topic discussed in the MBA real on efficient and irrational markets.

but Apple's erratic stock performance on Wednesday - hell, even the last 5 days - closely follows that of the major indices - http://www.google.com/finance?client=ob&q=NASDAQ:AAPL

 

[Phoenix]

So to summarize- the influential, big investors already take such things into account and as such there will never be large fluctuations in the market due to such? And additionally, any fluctuations in the market will be quickly reversed? Pretty interesting stuff. Where'd you get your MBA from?

In the market - no, that would be an incorrect derivation. In a particular stock - yes. Institutional investors buy and sell based on where they value the stock at some point in the future. It is important to separate fluctuations from a stock from market fluctuations as there is only a correlation between the two based (somewhat loosely) on the stocks beta (which measures how the stock moves with the market).

MBA from Georgia Institute of Technology - go Jackets!

 

[Cloudy]

Remember how much Apple's stock plummeted after the rumor that Jobs had died got started?

Yeah. This'll be 10 times worse.

This could be a WONDERFUL buying opportunity with iphone5/Sprint/ipad3 coming soon

 

[Phoenix]

but Apple's erratic stock performance on Wednesday - hell, even the last 5 days - closely follows that of the major indices - http://www.google.com/finance?client=ob&q=NASDAQ:AAPL

Apple's stock has a beta of (1.08-1.31 depending on who computes it) which means that it fairly closely moves with the market unless there is some event to suggest that it will outperform or underperform the market.

By definition, the market itself has a beta of 1.0, and individual stocks are ranked according to how much they deviate from the macro market (for simplicity purposes, the S&P 500 is sometimes used as a proxy for the market as a whole). A stock whose returns vary more than the market's returns over time can have a beta whose absolute value is greater than 1.0 (whether it is, in fact, greater than 1.0 will depend on the correlation of the stock's returns and the market's returns). A stock whose returns vary less than the market's returns has a beta with an absolute value less than 1.0.

http://en.wikipedia.org/wiki/Beta_(finance)

 

[Korey]

In the market - no, that would be an incorrect derivation. In a particular stock - yes. Institutional investors buy and sell based on where they value the stock at some point in the future. It is important to separate fluctuations from a stock from market fluctuations as there is only a correlation between the two based (somewhat loosely) on the stocks beta (which measures how the stock moves with the market).

MBA from Georgia Institute of Technology - go Jackets!

So what's your timeline for the reversion after all the panic selling?

 

[LCfiner]

This Onion article should be reposted.

http://www.theonion.com/articles/interim-apple-chief-under-fire-after-unveiling-gro,19111/

Interim Apple Chief Under Fire After Unveiling Grotesque New MacBook

CUPERTINO, CA—In his first major product release since stepping in for an ailing Steve Jobs last month, interim Apple CEO Tim Cook faced a storm of harsh criticism Monday after unveiling a grotesque new version of the company's popular MacBook that many in attendance described as "disgusting."

Cook presented the bizarre, malformed new product to stunned silence during a media event at Apple headquarters, revealing a device that, while vaguely similar to a computer in certain respects, appeared to be encased in a thick, flesh-like coating that was visibly moist and engorged.

"Oh, my sweet God," Apple employee Kurt Starfeldt said after viewing the MacBook up close. "It appeared to be discharging some sort of mucus-type substance from the headphone jack and making these weird murmuring sounds. And then it started quivering at one point when Tim was demonstrating how to use the touch pad. It was quite upsetting, actually."

 

[numble]

This could be a WONDERFUL buying opportunity with iphone5/Sprint/ipad3 coming soon

+China Mobile+China Telecom

 

[foodtaster]

In the market - no, that would be an incorrect derivation. In a particular stock - yes. Institutional investors buy and sell based on where they value the stock at some point in the future. It is important to separate fluctuations from a stock from market fluctuations as there is only a correlation between the two based (somewhat loosely) on the stocks beta (which measures how the stock moves with the market).

MBA from Georgia Institute of Technology - go Jackets!

Wow, I see. Any (somewhat) easy to read books on this that you'd recommend for someone going for an MBA in the future? What do you do now that you have a MBA? GIT is a good school.

 

[scorcho]

Apple's stock has a beta of (1.08) which means that it fairly closely moves with the market unless there is some event to suggest that it will outperform or underperform the market.

But didn't you also state that Wednesday's volatility was born on by the anticipation of Jobs' imminent news? That subsequently affected the performance of a majority of other stocks in the exact same manner?

 

[tino]

Think I will pick up some slightly lowered Apple stock tomorrow.

 

[LyleLanley]

So after letting this process for a bit I'm sad to see Jobs gone, but I think he and Apple have done a good job in putting together a more than competent group of people to take over. I hope he enjoys his well deserved retirement.

 

[Gamecocks625]

This Onion article should be reposted.

http://www.theonion.com/articles/interim-apple-chief-under-fire-after-unveiling-gro,19111/

Interim Apple Chief Under Fire After Unveiling Grotesque New MacBook

I lol'd

 

[jim-jam bongs]

This Onion article should be reposted.

http://www.theonion.com/articles/interim-apple-chief-under-fire-after-unveiling-gro,19111/

Interim Apple Chief Under Fire After Unveiling Grotesque New MacBook

I never saw this, that's amazing. It's like the eXistenZ Macbook.