Shortly after Steve Jobs announced he was leaving, Apple's stock dropped by more than 5% and most of us expected that decline to continue. Yesterday however, Apple's stock hit its highest value ever at $413.23. It seems that Apple's investors have managed to see a future beyond Steve Jobs and they are confident in the company's outlook.
This quick recovery could be influenced by the much rumoured iPhone 5. The gossip and hype around this model has grown so big that it looks as though the iPhone 5 will be the fastest selling Apple smartphone so far.
This bump in Apple's stock means that the new market capitalisation value is now almost $382 billion dollars, leaving Exxon Mobile and Microsoft behind. Considering that the iPhone is Apple's flagship product so we shouldn't be surprised if the company's stock hits new heights after the iPhone 5's release; and with the iPad 3 probably hitting the shelves in early 2012, everything looks rosy in the short term.
Those who like to play the stock market could have made a tidy sum if they'd bought Apple shares right after Steve Jobs resigned, to be more precise $35 a share, or just under 10 per cent.
The iPhone 5 release will be the perfect stage for Tim Cook to really announce his arrival as leader and also a chance to show investors that Apple is still the same innovative, top-earning company that Steve Jobs built.