"Watching the Apple share price graph over the course of 7 days starting with Steve's step down announcement yesterday through the earnings call today is going to be a really interesting exercise on timing bad news."
Word on the street is that Jobs had already shown up less at Apple in the last few weeks, the announcement was obviously timed to coincide with a bank holiday.
But, if Apple's quarterly results turned out lower than Apple's guidance and the Street's expectations, I bet Jobs' sick leave would have been announced at an earlier date, so that the two shocks wouldn't have amplified one another.
(Instead, at today's closing bell Apple's stock was back to the level of a couple days a go. An hour later, when Apple's Q1 results were in, trading actually went up to an unprecedented height. So Apple's cunning plan worked out quite nicely.)
Word on the street is that Jobs had already shown up less at Apple in the last few weeks, the announcement was obviously timed to coincide with a bank holiday.
But, if Apple's quarterly results turned out lower than Apple's guidance and the Street's expectations, I bet Jobs' sick leave would have been announced at an earlier date, so that the two shocks wouldn't have amplified one another.
(Instead, at today's closing bell Apple's stock was back to the level of a couple days a go. An hour later, when Apple's Q1 results were in, trading actually went up to an unprecedented height. So Apple's cunning plan worked out quite nicely.)