Shares of Apple Inc
The resignation sparked worries that his health has deteriorated further. Jobs has survived a rare form of pancreatic cancer.
While the news could weigh on shares in the near term, we think the company's model is built to last, sustaining a digital way of life that other industry participants have yet to rival, J.P. Morgan said in a research note to clients.
The brokerage said the news would create an attractive entry point for investors looking to build bigger positions in Apple and reiterated its overweight rating on the company.
The Cupertino, California-based company's shares fell to $360 in trading before the bell. They closed at $376.18 on Wednesday on Nasdaq.
(Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb Chakrabarty)