Steve Jobs has retired. He created one of the greatest companies of all time, Apple (NASDAQ:AAPL), and revolutionized the music industry with iTunes and the iPod, the phone industry with iPhone, and computer industry with Mac and now iPad.
Steve wrote to Apple (NASDAQ:AAPL) today:
“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.”
Apple’s stock (NASDAQ:AAPL) rose 9020% since Steve Jobs reassumed the CEO role in 1997. Apple’s market cap rose from $2.1 billion to $348.7 billion over the same time.
Steve Jobs will stay on as Chairman of the Board and on the Board of Disney (NYSE:DIS). COO Tim Cook takes over the CEO role at Apple.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.