When Apple revealed that its veteran famous style chief Jony Ive was leaving the business after 27 years, a minimum of one expert called it a “surprise to the Street”– which may represent the $8 billion struck Apple required to its market cap after the news broke.

“Ive is leaving a hole in the business and is plainly irreplaceable as he has actually been among the most essential figures at Apple throughout the previous couple of years; from his iMac vision to the sensational iPhone launch and improvement his finger prints are deeply woven within Apple’s core DNA,” Dan Ives, handling director at Wedbush Securities, composed in a note to customers following the news.

The expert states that Ive’s departure is a “significant altering of the guard within Cupertino.”

Still, he states, it “just contributes to the present agita” around Apple, as it deals with brand-new obstacles like a growth into video streaming, slowing gadget sales, and the growing tech cold war with China

“The significant concern now moving forward is around future item development with among the crucial visionaries of the Apple brand name gone,” Ives composed.

Learn More: Legendary Apple designer Jony Ive states that a discussion with Steve Jobs motivated the name of his brand-new business LoveFrom: ‘You are revealing your appreciation to mankind’

Still, Ives states, financiers are not too worried about Apple. Ive’s brand-new style company LoveFrom, which has a name that comes from a discussion with Apple co-founder Steve Jobs, will have Apple as its very first customer. Ive strategies to continue doing style jobs for his previous business, he informed FEET