There was some pretty big and breaking news coming from Cupertino, California earlier today. Apple’s CEO, Steve Jobs resigned as chief executive office of the iconic tech firm which he co-founded in the late 1970?s. According to a press release issued by Apple, Jobs said the following to the Apple Board of Directors and the broader Apple Community: 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. I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee. As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple. I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role. I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you. While the resignation was unexpected in its timing, it isn’t at all shocking for those of you who have been following Apple news in the past few years. This still hasn’t stopped Wall Street from overreacting to Jobs’ departure. Apple stock is down about $20 in after-hours trading in response to the move. There seems to be an uncertainty revolving around the future of Apple. However, if Jobs previous leaves of absences are any indication, this dip in the stock price is business as usual. The company’s stock has taken a noticeable dip every time there seems to be a concern about Jobs’ future at Apple. Pancreatic surgery in August 2004, liver translplant in January of 2009, medical leave of absence on January 17 of this year, all showed dips. The stock isn’t likely to dip again though. Each time the company has rebounded following concerns of Jobs position within the company. However, each time Jobs has resumed his position as CEO. This time it is different as he won’t be coming back, although he will be actively involved in the company. The future of Apple will be interesting though but the immediate future of the company’s stock value shouldn’t be of any concern, especially with the release of the new iPhone on the horizon. The main emphasis in that sentence being on the word, should. The company so many have grown so fond of has entered the transitionary period many wished against all odds would never happen. If anyone can move a company along the same path though, it is Steve Jobs himself. As usual, you can stay tuned for more news regarding the topic by following us on Facebook, Twitter, and/or subscribing to our RSS feed. Authors: