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Steve Jobs resigns as CEO of Apple

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Josh7289 said:
I don't see much discussion of it in this thread but any idea of why he resigned? Seems kind of bizarre. Maybe it's his health?
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It is entirely because of his health, the first paragraph of his resignation letter essentially says so.

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.
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Josh7289 said:
I don't see much discussion of it in this thread but any idea of why he resigned? It was unexpected to say the least. Maybe it's his health?
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I think we're all operating under the assumption it's his health. There can't be any conceivable professional reason for him to give that job up otherwise.
 
From the article/PR in OP:

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.
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Well, that settles it then.
 
I will remember this day when the androids defeated the resistance. Also hes not gonna die lol.. I bet hes hooking his brain up to sky... I mean Iynet as we speak.
 
As much as I hate Apple, I hope Steve's health improves. As much as I may disagree with a lot of his decisions, he's definitely helped push technology forward on a few fronts.

Also, I understand that this is a "big deal," but considering he's still going to be staying on as chairman of the board, I'd assume he will still have a ton of influence on Apple's design philosophy as long as he lives. I mean, sure it will affect stock prices in the short term, but does this really change the direction of Apple? I'd doubt it.
 
damn, hope he gets well! in fact, tomorrow i will go out and purchase yet another iMac just to show my appreciation for his work!
 
LTTP, nevertheless, holy crap this is sad news. I doubt Steve would have resigned had his health not been rapidly deteriorating. A true visionary, he helped shape the modern era as we know it. Hopefully Tim Cook can carry on, but as the stock market has shown, there's a great deal of doubt for that.
 
Big Ass Ramp said:
LTTP, nevertheless, holy crap this is sad news. I doubt Steve would have resigned had his health not been rapidly deteriorating. A true visionary, he helped shape the modern era as we know it. Hopefully Tim Cook can carry on, but as the stock market has shown, there's a great deal of doubt for that.
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How is it sad! This gives him more time to focus on his philanthropic works!

Wait...
 
LyleLanley said:
It is entirely because of his health, the first paragraph of his resignation letter essentially says so.
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wolfmat said:
I think we're all operating under the assumption it's his health. There can't be any conceivable professional reason for him to give that job up otherwise.
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Oh, I see.

I haven't been following his health for the past few years since he kept it so private, so I was never sure, but yeah, I guess it's pretty obvious, isn't it.
 
numble said:
Someone dying of cancer is not sad?
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Way to be melodramatic.

Yes, if Jobs is on his last legs its a heavy day for all nerd, his vision and influence in the community will be forever remembered and missed.

Also he's not dying tomorrow.
 
marrec said:
Way to be melodramatic.

Yes, if Jobs is on his last legs its a heavy day for all nerd, his vision and influence in the community will be forever remembered and missed.

Also he's not dying tomorrow.
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It's only sad if he's dying tomorrow? It was his 3rd medical leave, but this time he says "Unfortunately, [the] day has come" where he can't meet the expectations of the job, something he felt he was able to do through prior cancer treatments and an organ transplant.
 
Its only sad when those who are not rich are dying. Unless jobs gave a billion bucks to the poor or did something heroic he gets no pitty from the sane.
 
numble said:
It's only sad if he's dying tomorrow? It was his 3rd medical leave, but this time he says "Unfortunately, [the] day has come" where he can't meet the expectations of the job, something he felt he was able to do through prior cancer treatments and an organ transplant.
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Yes, that's exactly what I said. It's only sad if he's dying tomorrow.

Feel better?

Back on topic, I will be very interested in following Apple next year. I wonder when his influence will wain and other people have to start steering the ship.
 
BLagiver said:
Its only sad when those who are not rich are dying. Unless jobs gave a billion bucks to the poor or did something heroic he gets no pitty from the sane.
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I like you. You're a giver.
 
chaostrophy said:
Yeah, why not. Microsoft doesn't get the adoration that Apple does because they haven't bothered to carefully cultivate a brand identity. But they have created a versatile OS that runs on hardware of my choosing, not theirs. That takes serious engineering muscle. Apple can't or won't. Apple's chief innovation was to condition people through marketing to surrender control of the hardware they own. A hugely damaging trend to set.
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I just like having a computer that does't shit itself after 6 months, but I guess I'm conditioned to like computers to work for me.
 
Kung Fu Grip said:
Just listen

http://www.youtube.com/watch?v=D1R-jKKp3NA
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Always a great motivation booster.

“Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life. Because almost everything—all external expectations, all pride, all fear of embarrassment or failure-these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.”
 
At least he got out while Apple was at the top of its game. I feel like Apple has another couple years before it starts to lose its appeal as a status symbol. I could be wrong, but it wouldn't have surprised me a bit if Apple started to go downhill a little even if Jobs had stayed on.
 
dr3upmushroom said:
At least he got out while Apple was at the top of its game. I feel like Apple has another couple years before it starts to lose its appeal as a status symbol. I could be wrong, but it wouldn't have surprised me a bit if Apple started to go downhill a little even if Jobs had stayed on.
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I agree, if it were up to me I'd shut it down and give the money back to the shareholders
 
Phoenix said:
Nope, I didn't say anything about any other stocks being effected in the same manner. The beta is a measure of how AAPL moves with the market, the indices. If the market is moving in a positive direction, the beta tells us that AAPL will (in the long run - not on any one particular day) be moving in a positive direction.

What is know is that Tim Cook was elected CEO by the board *before* the announcement was made, not after. This news leaks out to the market, it always does and AAPL's stock moves as a result. On a positive news day there is a HUGE dip in AAPL stock about mid day which is recovered in the afternoon. There is an outlier at about 11AM of a large volume of selling that is not traditional for the normal volume on the stock. Historical analysis has shown that this generally represents information that a leak or 'sufficient information for strong supposition' is available so that some people sell. The Sprint news came out before 11AM and this is a strong positive signal for AAPL so why is the stock declining around this time with a huge volume spike?
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Your post isn't making any sense.

First you point out that AAPL typically moves closely with the market, but then you turn around and somehow see insider selling taking place, when in fact AAPL's movement was virtually indistinguishable from for example NASDAQ. And let's keep in mind that the "drop" amounts to just a little over 0.5% and the unusual "high" volume you mention is in line with the trading that took place the hour before (and in fact all morning long).

atvXC.png


Trying to read anything into that? I just hope you're not actually doing any buying based on that analysis of yours.

Oh and for comparison, this is what happened right after the announcement. One of these drops is not like the others, can you spot it:

HhNIy.png
 
I really want your Stevenote collection, giga.

Let's take advantage of our free 50 gigs of whatever the fuck box.net is.
 
crazy monkey said:
people are saying he shaped modern era lol. He was a good business man and lucky one.
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He will have that title for personal computing alone with the Macintosh, not to mention his influence in music, smartphones, and now tablets.
 
Steve will still be close to any decision making at Apple. He will be until he can no longer breathe; that's just the man he is. This won't effect Apple at all in the short term; probably the next 3 years.
 
i dont think Jobs will be as remembered as people think. At least, not for the late 90s+ Apple. He will be remembered for what Apple did 30 years ago, not music players and cell phones.
 
OK, seriously.......

He's still alive, he just knows he doesn't have the physical chops to be CEO anymore. Understandable and admirable to know one's limitations.

And people are talking like this is the end of Apple. WTF?

They've been grooming Tim Cook to take over for Steve since 10-15 years ago.
Jon Ive is still the lead design man.
The team that made shit so awesome is still there and likely to STAY there.
And Steve isn't leaving, it's a role change.

Fuck sakes at all the melodrama over this. I like Apple quite a bit, but the worship of Jobs is kind of ridiculous. He brought Apple back from death by bringing employees in who do amazing shit. THOSE PEOPLE ARE STILL THERE, and will likely stay there for the foreseeable future thanks to the stock options they get. He doesn't single-handedly run the fucking company and he's not dying. What's the problem?
 
Terrell said:
OK, seriously.......

He's still alive, he just knows he doesn't have the physical chops to be CEO anymore. Understandable and admirable to know one's limitations.

And people are talking like this is the end of Apple. WTF?

They've been grooming Tim Cook to take over for Steve since 10-15 years ago.
Jon Ive is still the lead design man.
The team that made shit so awesome is still there and likely to STAY there.
And Steve isn't leaving, it's a role change.

Fuck sakes at all the melodrama over this. I like Apple quite a bit, but the worship of Jobs is kind of ridiculous. He brought Apple back from death by bringing employees in who do amazing shit. THOSE PEOPLE ARE STILL THERE, and will likely stay there for the foreseeable future thanks to the stock options they get. He doesn't single-handedly run the fucking company and he's not dying. What's the problem?
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SJDF.
 
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