Belfast Telegraph

Friday 19 September 2014

Apple shares fall after Jobs quits

Steve Jobs
Apple's chief operating officer Tim Cook will is the new named CEO (AP)

Investors in Apple appear to be getting over the worst of the shock of Steve Jobs' resignation from the CEO post.

Apple shares were down eight dollars (£4.90), or 2.1 %, at 368.16 dollars (£225) in pre-market trading on Wall Street.

That is half the loss seen in extended trading, after Apple said Jobs would be giving up the CEO job to Tim Cook.

Analyst reactions were soothing, reminding investors that Jobs' departure was expected due to his health problems, even if the timing was not certain. Richard Gardner at Citigroup recommended investors buy the stock on any dip.

Futures on the Nasdaq 100, which gets more than half its value from technology companies like Apple Inc, fell slightly before the opening bell.

Latest News

Latest Sport

Latest Showbiz