Rapid Reaction: Steve Jobs Resigns as CEO of Apple. Worried?

Steve Jobs of Apple yesterday. Yes, it is surprising. But why is everybody freaking out? "Oh no, Steve Jobs is gone? But what about the iPhone 5? What about innovation?!?"

To answer immediate doubts, rumor has it that the iPhone 5 will release early September. The iPhone 5 obviously won't be affected by Jobs' resignation, but we won't get his epic KeyNote this time. No more black long-sleeve shirt with jeans from the '80's.

Well, with his resignation, one would think that we are losing one of the most innovative minds in recent history. Luckily for us, he is the Chairman of the Board, effective immediately. In simpler terms, he's just going to be taking a smaller role in the company. He's still going to be there, though, and that's a good thing. Remember, he did take a leave of absence due to health reasons in January 2009, and less than two weeks later, the iPad materialized to the general public. He came back in June 2009. He left again in January 2011 and put Tim Cook in charge.

Now, I'm not saying that Jobs is coming back, because due to his health, I doubt that the will, especially since he's announcing his retirement and not a leave of absence. He's no Brett Favre. What I am saying is that Apple could still put out high-volume sellers like the iPad with Cook at the helm instead of Jobs.

Cook has proven his competence as a handler of day-to-day business when in January Jobs had that leave of absence. Cook did and has done a good enough job to be highly recommended by Jobs to replace him as the CEO of the company. He will know how to also handle the large projects that the company is working on.

Are the best days for Apple behind them? Well, the best days for Apple are probably right now, with iPhone, iPad and Macbook Pro sales numbers at a very high level. They keep breaking their own record for quarterly earnings and profits, and they just became the most valuable company in the world, surpassing Exxon Mobile. Not a bad year, despite the fact the Apple stock will likely take a hit due to this move.

Cook is likely not the genius that Jobs is. Those are too rare to come by, but Cook is still smart and competent. He should be able to keep the company afloat.

For example, while the MacBook Pro does not have any ground breaking features (anymore) when compared to other Windows computers, it still sells much, much better. Also, Apple likely has implementation of features on products planned out. They have a ludicrous number of patents that we have never seen, like a mini projector on a laptop and what not. Also, consider the underwhelming update given to the iPad 2 (slimmer, faster, cameras), it makes sense that Apple has divided out their features in order to maintain high sales. If they were to unload their full bag of tricks on the iPhone 5, for example, the iPhone 5 would be the greatest phone on the planet, but then why would anyone buy the iPhone 6? Apple is set in terms of updates and overhauls for current products.

So, yes, for now, our precious MacBooks and iPhones and iPads are safe and the rest of the industry is still trying to catch up.

The big question mark is, will there be other firsts and major innovation like how the iPhone 2G changed the phone industry forever? That is very hard to predict, and only time can tell us that.

Then again, if the iPad is considered magical and innovation, then Apple should be totally fine.