Wednesday, August 24, 2011

Apple is a bellweather ...

The nasdaq is pulling down hard on this as well.

This might stifle the recovery efforts of the entire market since AAPL is such a bellweather.

In a stunning development after the closing bell, Silicon Valley legend Steve Jobs resigned as chief executive of Apple Inc -- the technology powerhouse he co-founded in a garage. Jobs, 55, is a pancreatic cancer survivor who has been on medical leave for an undisclosed condition since January 17. Apple said Jobs has been elected chairman and Tim Cook has been elected CEO, Apple said.
Apple's stock, which had been halted after hours, resumed trading at 6:55 p.m. and slid 7 percent.

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