Apple stock falls on news of Steve Jobs' medical leave

After talking yesterday about Apple’s CEO Steve Jobs taking a medical leave, Apple’s stock takes a big hit early Tuesday morning. Jobs announced his medical leave yesterday while the stock markets were closed due to the MLK holiday. The foreign markets however, were still open and Apples stock took a hit. In the foreign market Apples stock dropped 7.9% on the news of Jobs medical leave. Then this morning when the stock markets opened up here in the US, Apple watched it stock drop 6.45% in the first hour. The stock eventually stabilized at 3.7% down from the closing price Friday morning. What does this mean for Apple? Now Tim Cook the Chief Operating Officer will take over the day-to-day operations until Jobs returns. Cook will be under mass amounts of pressure to keep Apple at the top of the market but he has taken over for Jobs before and Apple is confident he is ready to fill in. Visit our interactive website here!