After twelve years, Steve Jobs will step down temporarily as CEO of Apple on what he calls a medical leave. Tim Cook will take over for now. Jobs plans on being part of the strategic direction the company takes while he is away and this further reiterates my statement that you can’t trust Apple PR on matters of the health of the company’s CEO. Again, I wish Jobs well and a speedy recovery but it seems obvious there is a major problem and investors will be worried.
Without Jobs, Apple will be a different company. I can’t say the company can’t do as well but the cult of personality which is Jobs is virtually impossible to duplicate.
Apple stock is halted at the moment and expect it to tank for at least a few days.