Steve Jobs takes sick leave as Apple shares plummet

Posted on Jan 13 2009 - 10:19am by David Gray

aapple.pngThe future of Apple was shrouded in mystery last night after chief executive and leading light Steve Jobs confirmed that he needs to take six months out to tackle his deteriorating health situation. Just days after Jobs assured staff and investors that there was nothing to worry about regarding his health situation, the U-turn has prompted more questions than answers. While there has been no specific information about his health condition there are rumours circulating the Internet that things may be worse than initially feared.

On the business front this has cast a massive shadow over the future of Apple as Steve Jobs has been the major force behind many of the company’s record-breaking products and its strategy for the future. Chief Operating Officer Tim Cook is set to take control on a day-to-day basis in the absence of Steve Jobs although he will still be heavily involved in major decisions and major strategy announcements.

Initially shares in Apple were suspended prior to the announcement and when they were relisted they immediately fell by just under 10%. There are fears that the pancreatic cancer which Steve Jobs appeared to beat in 2004 may have returned. This is a major blow for Apple, Apple investors and the millions of Apple fans around the world!

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