Wednesday, August 31, 2011

Steve Jobs Made CEO Hero Worship Cool

By now, the world knows that Apple (NASDAQ: AAPL ) mastermind Steve Jobs
officially has stepped down as CEO of what is one of the greatest success
stories in corporate history. An incredible innovator who loved making products
that enhanced all of our lives, it's nearly impossible to overstate just how
important the man is to his company, the tech industry and indeed to the entire
world. More importantly, I think Jobs represents something much larger than just
the enormously positive contributions his unparalleled Apple products have made.
You see, Steve Jobs made CEO hero worship cool. In a climate where the rich are
considered the villains, and where millionaires and billionaires are perpetually
vilified at the highest levels of government for not paying their "fair
share" of taxes, Steve Jobs is a real-life billionaire that serves as a
reminder that at the helm of nearly every successful company there's usually
one person responsible for creating the wealth that benefits us all. Let's
face it, it's cool to like Apple, and it's cool to have near-godlike
reverence for Jobs and his business acumen. This kind of respect, admiration and
hero worship for Jobs is something the world needs more of if we want to become
the kind of place that honors and respects the men of the mind, men who truly
move the world. Now, a lot of people are asking the "what's next?"
question when it comes to Apple and the future of the company's stock price.
Will Apple shares continue to perform going forward? Without Jobs' vision
directing the company, will it be able to keep creating industry-changing
products akin to the iPod, iPhone and iPad? I think the answers to these and
numerous other questions remain to be seen; however, what is indisputable is the
legacy that Jobs has built a legacy of cool that is quite likely to survive for
decades to come. You see, through his personal technology products, Steve Jobs
very essence has been infused into the culture. The man has deservedly become a
societal icon, and that is part of the hero worship that's both incredibly
refreshing and in short supply. Since Jobs resigned, I've frequently been
asked about whether investors should continue buying Apple shares. My response
is that nothing materially has changed since Jobs' resignation, save for the
fact that he's not running day-to-day operations. That's a task he hadn't
been doing anyway since going on medical leave last year. All of the relevant
earnings, P/E ratios, technical chart patterns, etc., that traders use to assess
a stock practically all point to a bullish future for AAPL . But the
aforementioned tangibles aren't the real reason investors should continue
biting into Apple. The main reason why Apple shares likely will remain strong
for years to come is because Steve Jobs has built a company that makes products
people adore. Until this sense of reverence for him and his products changes,
money will continue being made in Apple shares.

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