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Apple Shares Dip After Steve Jobs' Death Is Announced

Apple's share price dipped slightly during after-hours transactions, as news of the death of Apple's Iconic co-founder and former CEO, Steve Jobs, emerged.

The technology company had suffered a significant dip in the afternoon of the 4th of October as analysts questioned Apple's launch of the iPhone 4S, which was seen as not being enough to compete with the combined rising threat of Android and Windows Phone smartphones.

However, the stock rallied (opens in new tab) towards the end of the day and ended on a high. Apple stock was trading at around $377 at the time of writing, valuing the company at roughly $350 billion.

As the co-founder of Apple, with his comrade Steve Wozniak, Steve Jobs single-handedly brought back the company from the brink of bankruptcy in the 1990's before overseeing the golden age of Apple.

That started with the iPod and iTunes before extending to the iMac, the iPhone and the iPad. Apple is now the biggest technology company in the world (and momentarily the world's most valuable company outright) with a market capitalisation more than twice Google's.

With more than 46,600 employees, it has managed to consistently outflank its competitors delivering key metrics that can only be described as spectacular.

Désiré Athow
Contributor

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at ITProPortal.com where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.