When Steve Jobs stepped down from his day-to-day role as Apple’s chief in August, the stock price sank more than 5 percent in after-hours trading… but quickly rebounded once the American markets officially opened the next day. In the weeks that followed, the stock prospered as investors decided that the Apple brand was bigger than any one man — even someone as essential as Jobs had been to that brand.
Following the news of Jobs’ passing yesterday, Apple’s stock seemed to be following a similar trajectory. Early trading sent the stock down six points before buyers pushed the price back up. At 1:28 p.m. the stock was sitting at 376.50, just below its closing price yesterday. Most financial experts don’t expect Jobs’ passing to have a huge impact on the stock, as Jobs’ passing was not entirely unexpected and he had left behind what is perceived to be a capable executive team.