Apple stock status following death of Steve Jobs
Apple stock fell slightly, then recovered, following the sad announcement of Steve Jobs' death. Learn more about the fluctuations, as well as analysts' assessment of Apple stock.
Apple stock fluctuated slightly following news of Steve Jobs death. Reuters noted that Apple stock initially declined by 1.5 percent, but then recovered by midday. Shares were up one percent, at $382.15.
The Wall Street Journal reports that analysts are maintaining a buy rating for Apple. "We continue to believe that AAPL is positioned to outperform in this tough macroeconomic environment," said Shaw Wu, an Apple analyst with Sterne Agee.
People everywhere, both techies and those who just love their iPhones, were deeply saddened by the news that Steve Jobs had died. Jobs resigned from Apple less than two months ago, writing in his resignation letter, "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."
While he made no mention of his health, the assumption was that Jobs, who had battled pancreatic cancer, wasn't doing well. Sadly, that turned out to be the case.
The hope -- and assumption -- is that Apple will carry on and continue the innovation that has changed the tech world. As reported by Forbes, Brian White of Ticonderoga Securities, summed it up: "As Steve Jobs wrote in his August 24 resignation letter, 'I believe Apple's brightest and most innovative days are ahead of it.' We agree."