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Apple investors recover from shock of Jobs resignation; loss is pared in premarket trading
NEW YORK (AP) ' Investors in Apple on Thursday morning appeared to be getting over the worst of the shock of Steve Jobs resignation from the CEO post.
Apple shares were down $8, or 2.1 percent, at $368.16 in pre-market trading. That's half the loss seen in Thursday's extended trading, after Apple said Jobs would be ceding the CEO job to Tim Cook.
Analyst reactions were soothing, reminding investors that Jobs' departure was expected due to his health problems, even if the timing was not certain. Richard Gardner at Citigroup recommended investors buy the stock on any dip.
Futures on the Nasdaq 100, which gets more than half its value from technology companies like Apple Inc., fell slightly before the opening bell.
Source:Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed..
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