Slow Separation

I have a theory.

I think that Steve Jobs might not be as dire as I, and everyone else, thinks. Sure, I think he's sick, but I doubt if he's on death's door. Hear me out on this:

If news had broken today that Steve Jobs, CEO of Apple had died - even while on medical leave - Apple stock would have tanked (and it still might). People don't like abrupt change, especially when it comes to the leader of the largest corporation in the US.

However, by resigning first and staying on as Board Chairman, there's still some Steve Jobs leadership, but Apple now has Tim Cook at the helm. I think that the plan is to let everyone get used to Tim Cook - and to see that the sky in't falling - while Steve Jobs is still around. He's distancing himself, albeit slowly, from Apple's leadership role.

Then in six months if, God forbid, Jobs should die of his illness, then there's six solid months of proven track record under Tim Cook. And then investors might not panic as much. The longer Steve hangs on, the better for Apple's stock price when he does die.

I think Steve is all about gamesmanship, and this is a smart, smart move.