Steve Jobs has resigned as CEO of Apple and will continue as Chairman of the Board. He will be replaced by Tim Cook, who has filled in for him during his most recent medical leave. Jobs' resignation letter does not explain the reason, but his resignation is believed to be related to pancreatic cancer that has plagued Jobs in the past.
While speculation about the impact of Jobs' departure runs rampant, investors are "undaunted," according to Reuters. The stock dropped a mere 1.7% on the news.