Apple stock is having a surprisingly muted reaction to CEO Tim Cook’s exit. Here are 3 reasons why

Yesterday, Apple announced that its longtime CEO, Tim Cook, will step down in September, with John Ternus, the current senior vice president of hardware engineering, taking over.

The move marks the first change in Apple’s chief executive since Cook assumed the role from Steve Jobs in 2011.

However, while the prior chief executive shakeup saw Apple Inc.’s stock (Nasdaq: AAPL) get shaken up too, shares in the company are relatively stable this time, at least for now. Here’s what you need to know.