Analyst: Steve Jobs' CEO Departure Will Have 'No Impact' on Apple

NEW YORK - Steve Jobs' resignation as Apple CEO will have no immediate impact on the tech giant, Hudson Square Research analyst Daniel Ernst said in a first reaction.our editor recommendsSteve Jobs Resigns as Apple CEOSteve Jobs Resigns as Apple CEO: What Hollywood Is Saying Apple CEO Steve Jobs to Take Another Medical Leave of Absence "It is certainly sad news, but its been in the cards for some time," he told The Hollywood Reporter. "Jobs did what a good CEO should do - build a great team around him, and I strongly believe the company is so firmly on the path of innovation and growth that Jobs' departure will have no impact on the business." Asked about an after-market decline in Apple's stock, Ernst said: "The Apple story is not about a given day or even a whole quarter. Apple is a long-term story of product innovation, share gains and operating execution. If the stock is down, it's an opportunity to buy." Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Topics Steve Jobs Apple