Apple shares fall as Jobs quits

Apple Inc.

Last Updated at 25 Aug 2011, 17:01 GMT *Chart shows local time

price	change	%
371.31	- -4.87	- -1.30

Apple shares have opened lower in New York following the resignation of chief executive Steve Jobs.

In early trading, the shares were down 2.5% before recovering slightly to stand 1.5% down at $370.51.
Mr Jobs, on medical leave since 17 January, will stay on as Apple chairman. New boss will be Tim Cook, formerly chief operating officer.
Analysts suggested that the share price had not fallen further as investors had confidence in Mr Cook and his team.
Talented team "In our view, Tim (Cook) is a tough but well-regarded leader who will continue to hold Apple employees to an extremely high standard of performance," said Richard Gardner at Citigroup.
Mr Cook, 50, has already been in charge of the company's day-to-day running since January.
He also took the helm for two months in 2004 as Mr Jobs battled cancer and again for five-and-a-half months in 2009 when Apple's co-founder received a liver transplant.