Is Apple Bigger Than Steve Jobs?

After a slew of nasty rumors and some clarifications about his health, Steve Jobs announced today that he’s taking a medical leave of absence from his position as CEO of Apple Inc. Obviously, we wish Mr. Jobs a speedy recovery, but we have to ask: where does this leave a company whose image and corporate culture are so closely tied to its larger-than-life leader. The market clearly thinks Apple is in trouble as stocks lost 7 percent of their value immediately following the announcement. So where does Apple go now and does anything change for them if Steve Jobs is gone for a long time or permanently? Without Jobs, Apple could lose its mojo and stop producing innovative products. However, we prefer to think that under new management, the Cupertino company could play a bigger and more productive role in the tech industry. Apple’s secretive, insular culture drives away many potential business customers and gives Microsoft a huge advantage in the Enterprise space. At retail, the company has worked hard to develop a premium brand with huge profit margins, but has done so at the expense of marketshare. What would happen if a new leader eliminated the Apple tax, made a deal to sell Macs at Wal-Mart, and gave customers and the media a roadmap, much like Microsoft does with Windows or Intel does with its CPUs? Without Jobs, would Apple lose its mystique or gain a broader customer base?