Apple’s shares opened down 1.7% in pre-market trading.
That’s almost nothing, and on any other day wouldn’t be worth mentioning. But, today people are going to look at the stock for the market’s snap-reaction to Steve Jobs’ passing.
Analysts we’ve read this morning believe the stock is going to continue to perform well.
Brian White at Ticonderoga has a $666 price target. In a note this morning he wrote, “Clearly, there is no one like Steve Jobs in the tech world and Apple will never have another Steve Jobs at the helm, however, we believe he has created an incredibly talented team with Tim Cook as CEO that can lead Apple to continued success for many years to come.”
Apple will continue to iterate on the iPhone and iPad, with a great team building hardware and software. Piper Jaffray’s Gene Munster restated his belief that Apple is working on a television. When that television is released it will have Jobs’ fingerprints on it.
In other words, Apple is in great shape for years to come.