The share prices of Apple witnessed a fall after its innovative Chief Executive Steve Jobs resigned from the company. The company witnessed a loss of billions of dollars at the stock market as the investors were unsure about the future of Apple.

The news of Jobs resignation was declared after the market closed on Wednesday, but the shares of the company fell by 5% overnight. Also, Apple shares traded in Frankfurt fell by 4.5% in early trading on Thursday.

With the fall in the value of stocks by 5% resulted in a loss of more than $17bn (£10.3bn), declining to the mark from $348bn to $330.5bn. It was just 2 weeks back the company had earned the topmost position in the global market.

Tim Cook will be taking the position of Chief Executive, and various analysts consider it a smart move. Mr. Crook has been working for Apple since the beginning of 2011 when Mr. Job took a medical leave for the third time in order to seek treatment for pancreatic cancer.

As per Michael Gartenberg, Research Director at Gartner, "While this marks the end of an era for Apple, it's important to remember the there's more to Apple than any one person, even Steve Jobs”.