Henderson Global Technology fund manager Stuart O’Gorman said he were unsurprised by the resignation of Apple chief exec Steve Jobs.

Stuart O'Gorman said the resignation of the 'iconic' chief executive - who will become president - 'should come as no surprise'.

Jobs announced his resignation last night, and has been dogged by ill health in recent years.

The company represents around a 10 per cent stake in the Henderson Global Technology fund.

O'Gorman said, 'There’s no doubt the influence of Jobs has been hugely important in making Apple the company it is today.

'However, we believe Apple will continue its onward march not least because the market has been well aware of Jobs health issues and there is certainly no "Jobs premium" built into Apple’s valuation.'

'Let’s not forget he will continue to play an important guiding role as chairman.'

O'Gorman said the company had a strategy in place for the medium-term and was a dominant player in the tablet market.
 
He added, 'In the smart phone market - though not the leader it still has around an 18 per cent share and we believe they are likely to gain market share through product leadership.

'It still only has single figure market share in the PC market and we believe they will continue to take share. So, there is plenty of room for growth from a hardware point of view.'

O'Gorman said the appointment of Tim Cook as successor should avoid 'power struggles', noting that the pair had worked together since 1998 and had previously stood in as chief executive.

The manager said, 'Cook knows the business inside out and has been the guiding hand alongside Jobs as Apple blossomed.'
 
In a letter to the Apple board, Jobs said, 'I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s chief executive, I would be the first to let you know. Unfortunately, that day has come.'

He added, 'I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.'

Jobs is widely credited with turning around the fortunes of the company he co-founded since returning to take the helm in the 1990s.

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