Apple - Steve Jobs = - 20 billions US$?

According to some analysts, the potential departure of Steve Jobs from his Apple CEO position would strongly affect share, as much as -25%, in other words about 20 billions US$. Other analysts from Piper Jaffray (usually well informed about Apple) has a name for this scenario: a disaster.
Does Apple have a future without Steve Jobs? Of course this is in relation with the current investigation about the Stock Options affair, even though SJ does not seem to be personally involved. But one should also not forget that things change and evolve, and SJ might at some time leave his position, reasons might not necessarily be legal.
While this can be the subject of fear for analysts, as they have a tendency to always over-estimate or evaluate information or hypothesis; one should also realize that Apple has never been in such good shape in its recent history:
- the iPod-iTS ecosystem delivers substantial benefits, and still for many years ahead.
- having Apple using Intel CPUs should release the fear of investors of Cupertino using a exotic processor or architecture.
- if Apple's market share remains low, consumers start to discover that the iPod manufacturer is also offering other cool products, including computers and powered by an advanced OS.
In summary, we think that Apple can really keep going without Steve Jobs, as its charismatic CEO has shaped the company and its executive enough over the last decade to be sure that his idea and innovating spirit will remain and keep driving Cupertino in the right direction.