| |
| >> Back to the article | |
| July 24, 2008 | |
|
Talk of Jobs' health weighs on Apple's share price
|
|
| PALO ALTO (CALIFORNIA) - RUMOURS of Steven P. Jobs' ill health have been greatly exaggerated.
That is what Mr Jobs, Apple's chief executive, has been telling a number of associates, even as concerns about his health have weighed on the company's stock price. The latest flurry of talk was set off on Monday when, in a conference call after the release of Apple's earnings results, a company executive responded to a question about Mr Jobs' condition by saying that it was 'a private matter'. But in recent weeks, the Apple boss has reassured several people that he is doing well and that four years after a successful operation to treat a rare form of pancreatic cancer, he is cancer free. People who are close to him say that he had a surgical procedure this year to address a problem that was contributing to a loss of weight. On stage to unveil the iPhone 3G last month, his gaunt appearance led to speculation that his cancer had returned. An Apple spokesman has said that in the weeks before the event, Mr Jobs picked up a 'common bug' and was taking a course of antibiotics. Mr Jobs ran a high fever for the week and considered cancelling his appearance because he was still feeling ill, but did not want to skip a long-scheduled event, according to an industry executive he spoke with. The Apple boss has told several associates, as well as some members of Apple's board, that he is dealing with nutritional problems in the wake of his cancer surgery. Medical descriptions of the surgery state that in some cases, it leads to weight loss and low energy levels. Analysts were divided over how much of a role the talk about Mr Jobs' health played in Tuesday's decline in Apple's stock. After closing at US$166.29 (S$226.50) on Monday, the shares opened lower and then recovered during the day to close at US$162.02, a 2.6 per cent drop. Apple is, of course, not only private about Mr Jobs' personal life, but about virtually every aspect of its business. And the extraordinary degree to which the company's recovery and continued success is associated with Mr Jobs has made it unique in the eyes of shareholders. 'These are material questions given that his footprint is all over the company,' said Mr A.M. Sacconaghi Jr, a securities analyst at Sanford C. Bernstein. Apple has said that it has formulated a succession strategy in case Mr Jobs left the company, but that it was confidential. NEW YORK TIMES | |
| Copyright © 2007 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access |