Updated from Oct. 5 with comment from portfolio manager Herb Chen.BOSTON ( TheStreet) -- Steve Jobs joins Thomas Edison, the inventor of the motion-picture camera and the lightbulb, and Henry Ford, who pioneered the modern assembly line at his namesake car company, as America's greatest industrialists who disrupted technology to make a fortune against all odds. Jobs, the co-founder and former chief executive officer of Apple ( AAPL) who died Wednesday at the age of 56, will be remembered as a technology and business outsider who connected most intimately with his company's customers. Along the way, music fans gratefully bypassed record companies with Apple's iTunes music service, millions of mobile-phone users upgraded to the sleek iPhone smartphone and many millions more considered replacing their laptops with the breakthrough iPad tablet.
For investors in Apple, it's hard to put into perspective their investment in the iconic company, given that Jobs transcended the investment market and even the business world in many ways. As CEO, the college dropout oversaw a share-price increase of 5,000% in the past 10 years alone. "There's going to be a negative reaction," Smith says. "There will be volatility in the share price. There will be an impact from this news." However, Smith urges Apple investors to consider that Jobs built not only a rapidly growing company with products that consumers lust after, but a culture of innovation that can withstand a change in leadership. "Investors need to give the management time to prove themselves," Smith says. "This is a very talented group of people who have assisted in making Apple what it is today. The existing product line out in the market and the enhancements to come are reason enough to own the stock. "Jobs was a great leader," Smith adds. "He built a great management team. You can't replace Steve Jobs, but the company is in a mature phase, and the company will continue to be successful. We as investors, in years to come, we're going to have to judge whether the talented team at Apple can continue his legacy of innovation." -- Written by Robert Holmes in Boston. >To contact the writer of this article, click here: Robert Holmes. >To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet. >To submit a news tip, send an email to: firstname.lastname@example.org.