Shares of Apple Inc (AAPL.O) fell more than 4 percent in pre-market trading on Thursday, a day after its iconic CEO Steve Jobs resigned to become Chairman instead, leaving Chief Technical Officer Tim Cook to take on the mantle.
“While the news could weigh on shares in the near term, we think the company’s model is built to last, sustaining a digital way of life that other industry participants have yet to rival,” J.P. Morgan said in a research note to clients. more