NEW YORK - Shares of Research in Motion and Google rose as its fellow rival Apple shares took a tumble this morning. Apple which is the most valuable technology company in the world has shed few details on just what life may be like after Jobs. Steve Jobs now 55, told workers that he would take a leave to focus on his health. Jobs said he would still determine strategic decisions but that Chief Operating Officer Tim Cook will run the company in his absence. It is unclear how Jobs will make strategic decisions if his health continues to deteriorate.
This news sent Research in Motion (Stock Report) shares higher by nearly 2% at the opening bell, it is currently up less. Investors feel that if Jobs is gone Apple will be less competitive meaning competitors will gain more share in a competitive marketplace. Google has risen over 2% as the company will likely be a beneficiary of a less competitive Apple. The company is also advancing before its earnings announcement on Thursday.
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