The horror. Steve Jobs has resigned from Apple, CNBC is reporting.

What will Silver Lake hipsters do for their latest tech gadgets? Will the iPhone survive? Who will step up to the roll of black-shirted CEO?

These and other questions will not be answered. Maybe later. For now know that …

… Jobs has had health issues and his exit has been widely been anticipated.

Still, the company with some of the most valuable stock in the world has been inextricably tied with its co-founder's vision of overpriced, California-designed gadgetry for all (middle to upper-middle-class people).

Bad news for its stock and economy? As if we needed more gloom this summer.

Godspeed, Steve.

Here's Jobs' letter to Apple's board of directors:

To the Apple Board of Directors and the Apple Community:

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.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple's brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.



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