“Steve Jobs Resigns” is a strange sentence. It sounds like a headline to the Enquirer or some gossip rag, as ridiculous as “Large Octopus Takes Over New York.” It just sounds obviously false and insane. But, it happened.

Steve Jobs, the co-founder and CEO of Apple, the close-second largest corporation in America, relinquishes his position to his second in command, Tim Cook. Investors in the multibillion dollar company will remember the last time Jobs was no longer the head of Apple. When he left the company in 1985, Apple’s prospects soured until it bought Jobs’ new company NeXT in 1997. After that he became CEO and the company lived very much happily ever after, changing the technological landscape forever.

Although the shift in such a famous and iconic position is scaring the most daring of investors, some must be reminded that though Jobs is no longer CEO he remains chairman; all is not lost. In fact experts do not believe that the management changeup will affect Apple’s forthcoming products.

As no future plans are always under lock and key at the technological giant’s headquarters, rumors abound that an iPhone 4 will be coming in September and an iPad 3 in 2012, despite Jobs’ resignation.

Unfortunately despite the assurance from experts, the company’s shares already dropped as much as 7% on Wednesday.

Many believe the resignation comes as a sign of Jobs’ health, or there lack of. Since 2004, when he was diagnosed with pancreatic cancer, Jobs’ health has been in flux. He has survived through his grim prognosis after a few surgeries and more than one health related leave of absence. Despite his positive outlook and privacy on the topic, he took another medical leave of absence earlier this year.

Some at Apple have known this move was coming for a long time; it was only a matter of when. Of course Jobs’ main concern is and should be his health. Jobs himself stated in his letter of resignation “I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.”

During his leaves of absence, Tim Cook has taken the wheel and therefore seems more than prepared to take the wheel in a more permanent position. The 55-year-old CEO has made and iconic turn as head of one of the most successful companies of all time, and this is certainly the end of an era.