Apple shares plummet as Steve Jobs announces medical leave of absence
Apple boss Steve Jobs has announced plans to take a medical leave of absence until the end of June, due to his ongoing health problems.
“During the past week I have learned that my health-related issues are more complex than I originally thought,” he said yesterday in an email to employees. COO Tim Cook will handle day-to-day operations in Jobs’ absence.
In 14 minutes’ trading after the news was made public, Apple’s share price dropped nearly 10%, knocking $6.4 billion off the company’s market cap – reflecting investors’ concerns that Jobs is battling a reoccurrence of the pancreatic cancer he suffered in 2004.
Tags: apple, Steve Jobs
January 15th, 2009 at 2:39 pm
It is no surprise the share price is suffering. When Job left Apple the first time round the company suffered massively until his return.
January 15th, 2009 at 3:21 pm
[...] other news, Steve Jobs is sick and leaving Apple in a pickle. Meanwhile, his announcement to take a leave of absence has cost [...]
November 22nd, 2009 at 1:10 pm
Awesome post! I love stuff like this.