When Steve Jobs resigned as Apple Inc ‘s (NASDAQ: AAPL ) CEO on Aug. 24, 2011, shares fell 5.22% in after-hours trading. But the initial shock proved short-lived. By the following day’s close, the iPhone company’s shares were down just 0.7%, as investors reassessed the company’s ability to operate without its iconic co-founder.
Tim Cook , who had served as Apple’s chief operating officer and previously taken charge during Jobs’ medical leaves, was named CEO immediately. Apple’s subsequent financial performance offered early evidence that its growth engine remained intact — a historical precedent for investors to revisit on the heels of Jensen Huang ‘s departure from Nvidia Corp (NASDAQ: NVDA ).
Apple’s fiscal fourth-quarter results, reported in October 2011, showed revenue of $28.27 billion and diluted EPS of $7.05.…