I think it is almost safe to say that with that following Job's passing, Apple can only decline from here on out.
Undoubtedly, Apple will continue to be profitable and the upcoming projects Jobs oversaw will yet again take the world by storm. Still, no one else in the company matched his level of charisma or his vision.
The numerous rivals the company has made over the years, including but not limited to Google, Microsoft (it's long time rival), Sony, Nintendo, Rim, can smell blood and will be ready to pounce.
Remember that Germany was doing well for itself in 1941- until they found themselves in a two front war with the Russians, the British, the Americans and the Canadians all simultaneously.
Apple is surrounded by its enemies and now its leader, who has led the fray time and again, will soon be gone.