Jobs Who? Apple (AAPL) Stock Roars Higher

Remember how the Steve Jobs resignation news was supposed to be a negative for Apple (Nasdaq: AAPL) shares? Well the stock sure doesn't.

Shares of the iPhone and iPad maker are surging Friday, just one day after market reacted to news iconic CEO and visionary Steve Jobs is giving up the CEO job. The stock has now retaken all of the losses from the announcement and then some.

Some are pointing to the fact that there was already a Steve Jobs discount in the stock since it was pretty well-telegraphed that he eventually would leave. Also, at least three Apple watchers say the news could prompt the company to repurchase shares or issue a dividend given their $76 billion cash hoard.

The Street is also placing much confidence in new CEO Tim Cook, who they say is more than equipped to continue the company’s winning streak.

Shares of Apple last traded at $381.39, up 2 percent.

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