Is Steve Jobs still relevant to AAPL valuation
I think the fear on the street is based in peoples memory of days when Apple was without Jobs, when there was Sculley, Spindler, and then Amelio. Sculley was hand picked by Jobs and all of these chiefs failed to understand Apple and how to run it profitably as a result took Apple through its darkest days.
I am sure everyone wants Apple to continue to wow investors with quarter after quarter of stellar results, but up until this point no one has seen the tremendous success of Apple from anyone other than Jobs in command.
I have that fear as well. But I think this time will be different, because Jobs has earned the respect to direct the company’s future after he’s gone. In the 80’s he lost a battle for control of Apple, but he discovered that the soul of Apple survived when he returned to an Apple where people “bleed in six colors”. That’s Apple’s immortal soul, if you ask me. It was there at the start with Woz and Jobs and the Apple II, and it has always been there even if the board of directors didn’t always get it. I’ve always had faith in Apple, and now I believe its leaders are worthy of the company and its soul.
The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. — Steve Jobs