Instant View: Apple CEO Jobs takes stage at iPad event
NEW YORK | Wed Mar 2, 2011 4:49pm EST
(Reuters) - Apple Inc Chief Executive Steve Jobs surprised investors by presenting the company's new iPad personally at an event in San Francisco on Wednesday, calming some fears about his health and helping the company's stock higher.
The following is immediate reaction from investors and analysts.
MICHAEL BINGER, FUND MANAGER, THRIVENT FINANCIAL
"Personally I think it was great he (Jobs) showed up. It shows he's still involved with the company on bigger events and decisions."
"Even if he never comes back -- and I think the market has accepted that he's not coming back as a day-to-day operator -- for 10 years he's been building and incubating and grooming an army of innovators there."
DAVID DILLON, PORTFOLIO MANAGER, HIGHMARK CAPITAL
"It was a surprise to me. I was encouraged he was there."
"But he's on indefinite leave. I don't know if he's ever going to fully step back in. The company itself is executing pretty well, I have a lot respect for (Apple chief operating officer) Tim Cook."
"The (stock) valuation looks really reasonable and a lot of that is because there is concern with the potential loss of an iconic CEO that's very well respected and irreplaceable."
MATTHEW THORNTON, ANALYST, AVIAN SECURITIES
On new iPad pricing:
"It's going to ding the (Motorola) Xoom sales. You're going to have serious competition."
ROBERT LUTTS, CHIEF INVESTMENT OFFICER, CABOT MONEY MANAGEMENT
"Steve Jobs is the most important asset for Apple without a doubt and that's why investors are so curious about whether he will remain and continue to have an impact. The stock went up after his appearance but not as much as it normally would if Apple had a fully healthy CEO."
CHANNING SMITH, CO-MANAGER, CAPITAL ADVISORS GROWTH FUND
"It's definitely a good surprise. Investors know his illness is pretty serious, but it's comforting to know that while he's in his supposed leave of absence, he's still involved."
Credit: Reuters (www.reuters.com)
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