Apple Stock: Steve Jobs Stock Reaction

Steve Jobs
Steve Jobs remembered on Apple website
Steve Jobs
Steve Jobs remembered on Apple website

One day after Apple inc. co-founder Steve Jobs died, Apple’s stock saw a slight dip.

At the close of trading on Thursday, Apple’s stock dropped 88 cents to $377.37.

Apple saw a steeper drop on Tuesday, after the popular tech company decided to introduce the iPhone 4S, instead of the iPhone 5—leaving some unimpressed.

Apple confirmed Jobs’ death on Wednesday, after a long battle with cancer. Jobs—the creator of the iPhone and iPad—was 56.

“We are deeply saddened to announce that Steve Jobs passed away today,” the company said in a brief statement. “Steve’s brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve.”

Reaction to Jobs death came from all around the world, blowing up social media sites like Facebook and Twitter. Apple fans created mini-memorials at Apple stores across the country, including fresh apples and hand-written notes. Apple remembered their leader with a simple picture of Jobs on its website.

Even President Obama released a statement Wednesday night, saying: “Michelle and I are saddened to learn of the passing of Steve Jobs. Steve was among the greatest of American innovators – brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it,” read the statement. ”The world has lost a visionary. And there may be no greater tribute to Steve’s success than the fact that much of the world learned of his passing on a device he invented. Michelle and I send our thoughts and prayers to Steve’s wife Laurene, his family, and all those who loved him.”

In August, Jobs stepped down as Apple’s CEO and was appointed chairman of Apple’s board of directors. The board named Tim Cook, previously Apple’s Chief Operating Officer, CEO, in part due to Jobs’ recommendation of Cook in his resignation letter.

He had been diagnosed with a rare form of pancreatic cancer in 2003.

In 2009, Jobs underwent a liver transplant after taking a leave of absence for unspecified health problems. He took another leave of absence in January, before resigning as CEO. It was his third leave of absence since his health problems began.