Steve Jobs Resigns as Apple CEO

This took nearly 2 years longer than we expected, however Steve Jobs has finally just resigned. Preliminary reports from back in January made it clear that his health problems were not a thing of the past, however the big test has arrived. Is Apple a cult of personality, and does the share lock down from today signal what will likely amount to a popping bubble?

Our guess is that P/E can be expected to drop to perhaps below $10 in coming weeks as a sign that Steve Jobs is Apple. If it manages to hold then perhaps there is more substance to this company than we’ve given them credit for. Whatever happens our condolences to Mr. Jobs. We hope him the best.

It was once said that Steve Jobs generated “A reality distortion field. In his presence, reality is malleable. He can convince anyone of practically anything. It wears off when he’s not around…” (Bud Tribble working with Jobs in 1981). Unless he manages to pass on his deceptive powers to a disciple Apple should decline and ultimately vanish. However, while we are certainly no experts on the dark arts, it would seem with so many entranced with his spell that the padawan would not have to accomplish quite the feat that Jobs has. So it could happen. The opportunity is coming quickly for another guru to establish dominance. Be on the lookout.