Hospital Confirms Jobs' Liver Transplant

This recent success, analysts say, only emphasizes that the company can remain strong even as the health of its CEO fluctuates. Even before Jobs announced his departure, the company had been sending the message that Apple is more than Jobs, with a deep bench of executives ready to take the lead, they say.

When Jobs left in January, Tim Cook, the COO, assumed Jobs' day-to-day responsibilities. And Munster said that though it's possible that he could be added to the board and become the permanent CEO sometime soon, he's been the clear heir apparent since 2004.

Under his watch -- and in Jobs' absence -- Apple Inc. stock, which dropped to $78.20 per share in January after Jobs announced he was going on leave, has climbed steadily upward. On Monday, it closed at $137.37, about 1.5 percent below the previous day's closing price. (Munster said that, since 2004, Apple stock has dropped by about this much after each major event and product launch.)

"They've internalized a lot of lessons and to a degree so have consumers," said Avi Greengart, research director, consumer devices for Current Analysis. "There's such an understanding of what Steve Jobs likes and that's become emblematic of what an Apple product is."

As for Jobs, "he's shifting to more of a visionary role than an administrative role," Munster said.

He's reportedly returning, at first, on a part time basis, but Munster said, "For him, part-time is like a full-time. He's a workaholic."

ABC News' Ned Potter contributed to this report.

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