Forgive me, but this is going to be a bit of a rant. Apple ex-CEO and co-founder Steve Jobs passed away yesterday. The papers, internet, and social media are full of news and stories about the man, as well they should be. What’s insane is that the stock price has reportedly dropped ten points overnight.
I’m sorry, but that’s just stupid.
Stock traders, put this on and sit in the corner
After the announcement of the iPhone 4S, I saw people on Facebook and Twitter whining about how it wasn’t an iPhone 5 and how it was a “placeholder” release. Improving battery life while adding a significantly faster chip and GPU is not a “placeholder” — it’s Apple treating the iPhone the same as their desktop and laptop lines, as they always have. Sometimes there are big flashy announcements, and sometimes there are spec bumps. I don’t expect that we’ll see the iPhone 5 moniker take place until some form of 4G data is added. Yet the 4S announcement was treated as some kind of failure on the part of Apple by some pundits and armchair technologists. Part of me suspects that if the same exact phone had been released but Apple had used the 5 name, we wouldn’t be seeing any kvetching. Of course, we all know it will sell like hotcakes, but the pontificating hit Apple’s stock, causing it to tip just a drop.
Because again, people are stupid.
Do not make me get the Cone of Shame
Yes, Steve Jobs was a brilliant CEO and futurist. However, Apple computer is more than just Steve Jobs. The man’s skill was in taking the best of what was out there and trying to make something better or simpler. The people he tasked with that still work for Apple. Tim Cook was a wonderful COO for years before taking the job and is absolutely in line with Mr. Jobs’s vision. As for Apple’s industrial design, Jonathan Ive — the man behind the physical design of just about every Apple product since the iMac — remains at Apple and shows no sign of losing his creative edge.
Okay, Antenagate aside.
People have been predicting doom for Apple since Steve Jobs first left, then came back. Almost every product launch prior to the iPod was predicted as the final nail in Apple’s coffin. Instead, the Apple team showed that they could create products that were more than just tools people needed for work, but status symbols that people desired. Functionality could be removed as long as it was an Apple product. That’s the power of Apple, and it won’t go away with Steve Jobs.
Remember when not having a floppy drive was the end of the world?
I feel very sad for Mr. Jobs’s loved ones and for his family, both genetic and extended. However, people need to realize that Apple was and is more than just one man. Apple will continue on, and it will continue to innovate, dominate, and in the case of Samsung, litigate, for some time.
I couldn’t agree more. Although, I don’t know when you wrote this, but in pre-market trading its down 1.5 points. I watch AAPL everyday to see what my 100 shares are doing.
It looks like AAPL is bouncing back nicely this morning. Too bad, I would have liked to pick up some Apple stock at a discount.
It is truly odd that the news of Jobs’ death should provoke a drop in stocks. If this had been utterly unexpected, maybe, but come on —
1: It has been known that he was dealing with serious health issues for a long time, and anyone looking at recent pictures of him could see that his body was being consumed from inside out.
2: He actually stepped down from his official position with the company a few months ago, and handed over the reins of the company in a very smooth process.
It is sad that he has died. But he actually had the wisdom to step down and make sure that everything was in order as he let go of those responsibilities. Where other execs might have chosen to stay “on the job” right up to the moment they dropped dead, leaving chaos behind them, Jobs made his exit from the business gracefully and in an orderly fashion.
Yeah, stock brokers are idiots.
I think it’s odd that the stock dropped so fast, not that the stock dropped. Apple wasn’t that great without Jobs. I read Jobs left plans for 4 generations of iPhone, but I wonder how those plans will be effective without jobs looking at the environment and adjusting.
Investors are somewhat heartless and some are overly speculative, but it’s their money, so if they feel it’s best to get out, I don’t see how they’re dumb for it.
Jobs was the Einstein of our time. He changed the world, but life will always carry on.
I wonder how Apple will do without him (at least past the planned 4 generations of iStuff he left be to them).
This really hits the nail on the head the ‘new’ iPhone4S is a whole new phone, faster processor, new improved camera, and many new features, unfortunately the rumor mill outed most of them before any announcement was made. Problem is the general public wants a fancy new toy that looks different if they made it look different from the iPhone 4 chances are it would have been received with more oohs and aahs.. Now what I’m not looking forward to rude people telling their phone what to do. My Windows Mobile phones did that pretty well BTW, and I never annoying gave it voice commands in public. :P