Apple begins post-Jobs era

Steve Jobs has left Apple Inc. for stints before due to serious health problems. Today, Apple's CEO and figurehead announced that he would resign from the company, leaving it in the hands of Tim Cook.

With Apple hugely influential to the semiconductor and MEMS markets, with rumors of a solar foray in the works, Job's departure could have ripple effects throughout the electronics supply chain.

Tim Cook, Apple's COO, will take over as CEO. Cook took the reins during Jobs' most recent medical leave in January, and Apple's Board of Directors seemed pleased with his abilities. He takes the job with Jobs' recommendation. As COO, Cook was previously responsible for all of the company's worldwide sales and operations, including end-to-end management of Apple's supply chain, sales activities, and service and support in all markets and countries. He also headed Apple's Macintosh division and played a key role in the continued development of strategic reseller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.

Steve Jobs' legacy at Apple can hardly be overstated. In a letter to shareholders and consumers, Jobs stated that "Apple's brightest and most innovative days are ahead of it," adding that he would continue to contribute to the company in a new role.

Apple shares fell on Jobs' announcement, but Wall Street analysts remained uniformly behind Apple's succession plan and business prospects, says Rex Crum, MarketWatch. Apple shares remain up about 14% since the first of the year. The sell-off will be short-lived, analysts agree, as new buyers leap at the lower stock price for the successful company, and influential market watchers come out in support of Cook's leadership.

Steve Jobs goes on medical leave from Apple

In an email subsequently released to the media, Steve Jobs informed the Apple team that he will take a medical leave of absence to focus on his health. Jobs will continue as Apple's CEO and be involved in major strategic decisions for the company.

Tim Cook, chief operating officer, will be responsible for all of Apple’s day to day operations.

Apple recently made a stir in the photovoltaics sector when it won a patent for a mobile device that derives power from a solar panel in a "plug-and-play" configuration. The patent shows that the solar panel would be removable and could be used to charge the device or batteries/accessories.

The company also influenced the MEMS microphone sector in 2010 with incorporation of MEMS microphones into the iPhone 4.

The PV and MEMS sectors will watch carefully to see how Apple's technology and design decisions are affected with Jobs on this medical leave. The Associated Press reports that Cook spent significant time at IBM before joining Apple, where he has taken the reins twice due to Jobs' medical leaves (2004 and 2009).