Monday, January 17, 2011

Apple Is More Than Just Steve Jobs

Eric Savitz - Tech Musings - Forbes:
While contemplating [the health of Steve Jobs and] whether to sell your shares, keep a few things in mind:
  • Apple has been through this before, and the stock has outperformed. During the period Jobs was on medical leave in the first half of 2009, Apple shares actually appreciated about 67%.
  • Apple has a deeper bench than many people realize. Tim Cook, the COO, has been here before. For the third time, he takes on more responsibility while Jobs is gone. The Street respects him. The Valley admires him. He is battle-hardened. And let’s not forget that behind Steve is a team that includes industrial designer Jonathan Ive, marketing guru Phil Schiller, iPhone software specialist Scott Forstall and a host of others.
  • Apple is simply not a one-man band. We are talking here about a company that in the September 2011 fiscal year could generate more than $100 billion in revenue. Did you think Steve was going to do that by himself?