Apple's Shareholders:Tim cook is the right man for job

Investors were saddened but not surprised to learn Wednesday night of Steve Jobs' departure as CEO. Shareholders seem fairly confident that Apple's larger-than-life co-founder and long-time executive has effectively trained Cook and built a bench deep enough to execute the vision he's laid out for the company. Tim Cook, most recently Apple's chief operating officer, had taken over the top job on two previous occasions in 2004 and 2009, both when Jobs was on medical leave.
"It's reasonable to give [Steve Jobs'] lieutenants the benefit of the doubt for several years," says Pat Dorsey, director of research and strategy at the Sanibel Captiva Trust. "Questions about the leaders' vision for the company are a long way off." Dorsey's clients, mostly high net worth individuals, all hold Apple stock.
While few leaders can match Jobs' vision or showmanship, Apple holders said they are confident about Tim Cook and his ability to execute.

"If this was any other company, you'd say to yourself 'wow, this is an extraordinary CEO,'" said Morris Mark, founder of the hedge fund Mark Asset Management Corp. He has $500 million in assets under management, including an investment in Apple. "Shareholders were rooting for him to be chosen as CEO." Lots of people had speculated before this week that when the time came for Apple founder Steve Jobs to leave his position at CEO, there would be a massive sell off of Apple's stock price. Today, one day after Jobs did exactly that, those investors seem to be keeping their heads, at least at the moment. While Apple's stock price did go down several percentage points in after hours trading on Wednesday, today Reuters reports that the stock went down less than one percent and actually outperformed the overall stock market