Wednesday, August 24, 2011

Jobs Weighing on the Market

Steve Jobs resigned tonight as CEO of AAPL, here's the resignation letter. Tim Cook is taking over as CEO, but shares of AAPL are down over 5%. Since the NASDAQ re-weighted a month or so back, I don't know what AAPL's weighting is now, unless we all chip in for the $10,000 to pay NASDAQ to find out. However, last time I worked on figuring it out, it was about 20% of the NASDAQ 100 or about equal to the 50 bottom NASDAQ 100 stocks combined.

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