Apple’s valuation took a notable dip in after-hours trading after design chief Jony Ive announced he would be leaving the company. Upon news of Ives departure, Apple’s stock dropped -0.87% — which is small in the grand scheme of things, but still shaved about $8 billion from Apple’s market cap.
In a statement, Apple CEO Tim Cook tried to reassure employees and investors that the company’s relationship with Ives — who’s had his hand in designing countless Apple products including the iMac and iPhone — would remain close. Ive will be launching his own independent design firm, named LoveFrom, and Apple is said to be one of its primary customers.
Via Business Insider
