Apple Inc.’s AAPL, +3.51% cloud chief is expected to step down next month, according to a Bloomberg News report Friday, citing people close to the matter. Apple shares spent Friday climbing higher and closed up 3.5% at $151.03, compared with a 1.2% gain on the Dow Jones Industrial Average DJIA, +1.17%, a 1.6% gain on the S&P 500 index SPX, +1.61%, and a 2% rise on the tech-heavy Nasdaq Composite Index COMP, +1.97%. In a late Friday report, Bloomberg said Michael Abbott, head of Apple Cloud Services, would step down in April, and be replaced with Jeff Robbin, who is credited with creating iTunes.
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