While Jobs is the master visionary of Silicon Valley, Apple has been down this road before and the shares have done just fine. The normal course of action is for a few days of bloodletting after the news and then the buying starts again.
Goldman Sachs reminded us today that this is a company with a deep management bench and $51 billion in cash. And remember Goldman has a $430 price target on Apple shares.
Here are few ETFs to pounce on for Apple's rebound. Remeber that Apple is the most widely followed stock by U.S.-listed ETFs, according to ETFChannel.com.
1) PowerShares QQQ (Nasdaq: QQQQ):As the largest Nasdaq stock, Apple is also the biggest component of QQQQ accounting for almost 20% of the ETFs weight.
2) Internet Architecture HOLDRs (AMEX: IAH):Apple may not really be an Internet architecture play, but it does account for almost 24% of this ETF.
Other ETFs with double-digit weights to Apple: SPDR Select Sector Technology (NYSE: XLF), Vanguard Technology ETF (NYSE: VGT), ProShares Ultra QQQ (NYSE: QLD) and the iShares Morningstar Large Growth Index Fund (NYSE: JKE), among others.