Once again, AAPL investors react like a bunch of scared little girls due to speculation over Apple's prospects for continuity if something were to happen to Steve Jobs.

Jobs' departure is coming in the next decade IMO, and will certainly be a blow to Apple for obvious reasons. However, I'm personally unconcerned about the company's future under different leadership. I'll go on the record saying that (short of any major changes to the management structure at Apple) the CEO job will go to Phil Schiller.

Phil gives presentations that are equally peppy and enjoyable as Jobs', and he has the same passion and enthusiasm for Apple's products as Steve. I think he can do a great job running the WWDC and other conferences/trade shows and taking the company where it needs to go.

In addition, TImothy Cook has done a great job as the company's COO, and would continue to operate a tight ship behind the scenes if Schiller took over. He ran the company for nine months while Jobs was dealing with pancreatic cancer, and nobody noticed the difference.

I'll just ask one favor: don't give the job to the guy who did the iPhone presentations at WWDC this year. His mechanical, clearly-rehearsed delivery was compensated for only by the bad-assedness of the iPhone 3G and the sample apps. I'm sure he's a nice and capable guy, but presentation and evangelism are obviously not his strengths.

I'm still long on AAPL, with a $240+ price target for the next year. The volume sales that the $199 iPhone 3G promises are comparable in my mind to the iPod rush at the beginning of the millennium, with the App Store representing the next killer device/electronic storefront consumer experience in the same way that the iTunes Music Store did for the iPod.

I just wish I had the balls to buy some options. :)