Apple shares take major stumble on same day as Steve Jobs memorial

The impact is being felt.

There was a bit of a bizarre coincidence that unfolded on Wednesday, and some could say it took away from some of the joy that Apple produced by making the generous decision to temporarily close its stores to provide its employees with the chance to watch a memorial for co-founder Steve Jobs via a webcast.

Thanks in part to an earnings report that showed lower-than-expected sales of some products (including iPhones), the New York Post is reporting that company stock fell a whopping 5.6%, or around $22 billion in market value. (The memorial being held on the same day was merely a coincidence.)

This major drop does come as yet another sign that the company has a challenging road ahead of it in a world without Jobs, as they will have to strike early and often to show that there are still plenty of innovative minds present as well as products that will make the consumer’s life easier.

Is this what you expected shortly after the news about Jobs broke?

Photo: Matthew Yohe

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