Wells Fargo (NYSE:WFC) on Apple (NASDAQ:AAPL), Steve Jobs

After the major announcement by Apple (NASDAQ:AAPL) CEO Steve Jobs that he would be taking another medical leave of absense, followed by an incredible quarterly performance by the company, it may be time to look at what some analysts like Wells Fargo said about the events.

Wells Fargo (NYSE:WFC), "While there will likely be some negative stock response resulting from this headline, we are more than comfortable with the rest of the management team. We believe that the company has its product plans set in place for the next few years, and do not expect to see any change in strategy...While it is clear that Jobs can't be replaced, we believe Apple's brand, strategy, and depth of talent is in place and the company should be able to continue to execute well. We believe that the current valuation already reflects some of the risk investors have associated with his health concerns."

Well Fargo reiterates an "Outperform" rating on Apple (AAPL).