Thursday, March 03, 2011

Apple's Display of Strength

By Eric Jackson
RealMoney Contributor

3/3/2011 12:15 PM EST
Click here for more stories by Eric Jackson

Yesterday's iPad 2 announcement from Apple (AAPL - commentary - Trade Now) was remarkable for several reasons.

The biggest surprise was Steve Jobs' appearance as the master of ceremonies. Kara Swisher, tech columnist at The Wall Street Journal reported that he might make an appearance, but it certainly was not expected. The audience roared at his arrival, and he gave a vintage "Jobs" performance (albeit a little weaker than normal).

Jobs' appearance was a relief to investors. Since his Martin Luther King Day announcement that he would take an indefinite medical leave from the company, concern has spread among investors that he might not return. Trashy magazines and websites had circulated unflattering photos of Jobs, which only added to investor anxiety. While most people trust and take comfort in the fact that Tim Cook is ready, willing and able to step into Jobs' day-to-day role, the concern of the last month has weighed on the stock.

The Jobs we saw yesterday was much stronger that most of us had been led to believe by the National Enquirer. We all know that the Apple product plan is likely set for the next four to 10 years and that the company has capable management depth. However, Jobs' performance yesterday was encouraging to long investors in the stock.

Apple's Senior Vice President of Industrial Design, Jony Ivy, was also at yesterday's event. There have been rumors over the past week or so that Ivy and Apple's board have been at odds over Ivy's desire to relocate back to England. Ivy is the wunderkind behind the design of Apple's products. Who knows if these rumors have any merit? It's hard to imagine that Ivy would want to leave the company over the issue of where spends his time. In any case, he was there yesterday in the front row, and he had a speaking role in one of the videos.


[*** This post is an excerpt of the full article, available by clicking here to go to Note: subscription required. ***]

Sphere: Related Content
blog comments powered by Disqus