Steve Jobs Resigning

Sure there are tons of articles on the internet discussing Steve Jobs resigning. Here are just a few.

BGR - http://www.bgr.com/2011/08/24/steve-jobs-resigns-as-ceo-of-apple-tim-cook-takes-his-place/

FoxNews - http://www.foxbusiness.com/technology/2011/08/24/steve-jobs-resigns-as-ceo-named-chairman-373386699/

First I'd like to say to Steve thanks for so many of the things you brought to our industry. While I don't always agree with everything that Apple does there is no doubt that he innovated and brought new things that changed how we live our lives.

I'd also like to point out that while Apple stock has initially fallen around 2% in these first hours of trading after the announcement, I think the worst is yet to come for them.  I'm not sure how long it will take, after all Mr. Jobs has them set on a pretty successful path, but I believe we'll see some pretty major downgrades for Apple in the coming years.

I know its easy to predict this right?  I'm going to back up my statement with some reality.  Many people forget that Jobs came back to Apple in the late 90's and literally saved the company.  Prior to Jobs return Apple had largely sunk into near irrelevance. In fact it looked like the only likely challenger Microsoft had on the horizon was Linux. If not for the good timing of the MP3 craze and Jobs knack for marketing with the original iPod and iTunes Apple may not even exist any longer.

Regardless of what happens with Apple in the coming years I imagine their near term success will continue and they will continue many of the practices Mr. Jobs put in place. I do wish Steve Jobs the best and I hope that his health isn't as bad as it would seem.