Tim Cook has been acting as CEO for quite a long time already, and nothing's changed. Jobs will still be chairman, able to make sure Apple doesn't lose that unique vision.
Or not so much. Apple stock dipped 2.6% in after hours trading, and has now recovered more than half of that.
The fact is that this has been seen coming for a long time and has been factored into the price. Jobs hand picked the management team and has been out on medical leave since early in the year. He's looked like he could drop dead any minute for the last two years.
Of course, if you're so confident that the stock is going to tank, here's your chance to score bigtime by shorting it. Of course, I should mention that I've been listening to people saying that Apple stock is going to crash any day now for the last ten years.