Apple’s share price fell by just over 1 per cent in early trading in New York, trimming $9bn from its market value, as investors and analysts suggested Jony Ive’s departure was a natural transition for the company — and may be a chance for a shake-up.
“I’m sad to see Jony Ive go — it’s marking again the end of an unbelievable epoch,” said Dan Chung, chief executive and head of investments at Alger, a longtime Apple shareholder in New York.
But he added that the exit of Apple’s chief designer would make room for a new generation in the company’s internal design studio. “Giving an opportunity for talent to step up and shine might be better for the company.”
“The simple answer is that it doesn’t change a thing in part because he hasn’t been as involved in the last four years,” said Gene Munster, analyst at Loup Ventures.
MacDailyNews Take: Yes, what Gene said.
As we wrote this morning, everyone knew he’d stepped back, just as everyone knew he’d immersed himself in Apple Park. The fact that he’d already partially ceded responsibilities to Hankey and Dye bodes well for a smooth transition.
We congratulate Jony Ive on a job exceedingly well done for so many years and we look forward to where Hankey and Dye will lead Apple’s Industrial Design now!
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