Steve Jobs Leaves Apple Due to Health
Apple co-founder and Chief Executive Steve Jobs said after the closing bell Wednesday that he would be taking a medical leave of absence until the end of June. Questions continue to surround Steve Jobs health status and now it seems that reassuring investors will be a far greater task.
Shares of Apple stock which have already been battered by the market were down over 6% in after hours trading. After the news was originally released trading was temporarily halted.
The health status of Steve Jobs continues to be a mystery:
Jobs, 53, said in a letter last week that he would remain at Apple’s helm despite the hormone problem, and that he had already begun a “relatively simple and straightforward” treatment. But in an e-mail to employees Wednesday, Jobs backtracked.
“During the past week I have learned that my health-related issues are more complex than I originally thought,” he wrote.
Last week, Jobs said his disclosure of his hormone problem was “more than I wanted to say, and all that I am going to say” about his health. It came on the eve of Macworld, the biggest Apple trade show of the year, and Jobs said he wanted everyone to relax and enjoy the show.
Even so, the limited amount of medical information in that announcement did little to soothe Wall Street’s nerves, and in interviews last week analysts predicted that the health watch would continue.
Steve is a critical part of Apple and most recently did not serve as the keynote speaker at Macworld. He is a CEO that likes to be out in the community promoting Apple products and more importantly the Apple brand.
Tim Cook is taking the helm at Apple until Steve Jobs returns in late June. Until then investors are going to have a hard time supporting the stock amidst so much uncertainty as to the exact status of Steve’s health.
Source:
Apple CEO Jobs backtracks on health, takes leave
Jessica Mintz
Associated Press, January 14th, 2009 6:03 PM EST
