By now, most of us would have digested the big news of the day and gotten over the initial shock that Apple is losing its poster boy and computer genius, Steve Jobs, as CEO.

With Apple stocks dropping by 20% since the release of Jobs’ resignation. Tim Cook, former COO of Apple will now take over the coveted role of Apple’s chief. Jobs has requested to become “Chairman of the board, director and an employee of Apple”,

On social media platforms, news of this has sent shockwaves across Facebook discussion walls and #stevejobs, Apple CEO and Tim Cook as top trend topics on Twitter both locally and worldwide.

Jan Dawson, chief Telecoms Analyst at Ovum feels that while the company’s shares might be suffering after Jobs’ resignation, further impact on the company will not be immediately felt.

“Tim Cook…has been running the company since Jobs began his latest medical leave in January. Secondly, Jobs will now serve as Chairman and will therefore continue to have a role with the company, at least in the short term. And thirdly, the board direction and strategy for the company and its major products for the short to medium term will already be in place, and will not be affected by this change.”

Dawson, however, feels that in the long term, Apple might face certain challenges with Jobs’ absence.

“Though Tim Cook is considered a safe pair of hands as an operational leader, he does not have a reputation as a visionary. And should the time ever come when Steve Jobs no longer has a role with the company, Cook will have to rely on others on Apple’s senior leadership team to provide an ongoing strategic vision, and there is no single figure that obviously fills that role going forward.”

Dawson cites Jobs as the most visible and well-known CEO of any technology company and that his visionary seat will be a hard position to find an equal replacement for.