New York, Oct 6: Shares of Apple Inc. fell as trading began in New York on Thursday morning, the day after former CEO Steve Jobs passed away, reports ABC News. But they quickly bounced back -- many industry observers believe the maker of the iPod and the iPad is well-positioned to continue its successes without its iconic founder.
Shares fell about 0.7 percent to $375.75 at the opening bell, then they moved up $6. The Dow Jones industrial average was relatively flat, rising 0.7 percent to 10,948, while the tech-heavy NASDAQ rose 0.09 percent to 2,463.
The company's shares have increased more than 90 percent this year. Apple shares fell 0.7 percent the day following Jobs' resignation in August. On Aug. 24, as Jobs' health began to fail from neuroendocrine cancer, he resigned as CEO and handed the baton to his long-time lieutenant and chief operating officer, Tim Cook. The 56-year old Jobs had led the company since 1996, after co-founding the company in 1976 and her ouster in 1985.
From: http://ping.fm/bTQMa
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