Apple CEO Steve Jobs to Take Medical Leave

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Steve Jobs is taking medical leave from Apple and, considering his statement about privacy and Tim Cook executing the company's plans for 2011, it doesn't sound like he has plans to be back any time soon.

At my request, the board of directors has granted me a medical leave of absence so I can focus on my health. I will continue as CEO and be involved in major strategic decisions for the company. I have asked Tim Cook to be responsible for all of Apple's day to day operations. I have great confidence that Tim and the rest of the executive management team will do a terrific job executing the exciting plans we have in place for 2011.
 

Q-BZ

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Can't be a surprise to anyone. Very unfortunate. Best wishes.
 

Ultima99

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No shock he waited until the Verizon iphone was announced to defray the doom and gloom speculation of Jobs health being in question. Then they'll have the iphone 5 and ipad 2 to keep people occupied. I doubt it will have too big of an impact on them in the short term. Their stock is currently up btw.
 

OldDeadOne

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His condition is probably way worse than he's been letting on for quite some time.
 

jiminator

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Hrm, in germany the stock price fell by 8.3% in after hours trading.
last time it fell by 10% but recovered during his absence.
 

Redleader

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No shock he waited until the Verizon iphone was announced to defray the doom and gloom speculation of Jobs health being in question. Then they'll have the iphone 5 and ipad 2 to keep people occupied. I doubt it will have too big of an impact on them in the short term. Their stock is currently up btw.

:confused: The market is closed today.
 

Ultima99

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Lol right sorry. :eek:

Either way, they'll get over it. Verizon iphone and iphone 5 will distract people enough.
 

the-one1

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OH GOD NO!!!!!!!!!!!!!!! What are we going to do without Jobs at Apple. Jobs = Apple. Without Jobs, there is no Apple.
It's like Mac and Cheese without the cheese. It's just plain hollow noodles!
 
D

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His condition is probably way worse than he's been letting on for quite some time.

I agree. Given his health history, I would hazard a guess this is the long goodbye. Given his health history, I am willing to bet the cancer has reappeared and matasized. Sadly this happens to a lot of cancer survivors who win the first battle.
 

TwistedAegis

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SEC protip: Look who purchased large short orders of Apple on Friday.

Of course, they won't, insider trading is par for the course for the big guys.
 

Tolyngee

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I agree. Given his health history, I would hazard a guess this is the long goodbye. Given his health history, I am willing to bet the cancer has reappeared and matasized. Sadly this happens to a lot of cancer survivors who win the first battle.

I don't think the geek world's been the same anyway since Gates rode off...

It seemed Gates complaining about Jobs' Apple commercials and "who cares if they're cool?" sentiments was the end of the duo...

It's like Blues Bros 2000, or The Smothers Brothers without the brother, Costello without Abbott, Hardy without Laurel, Jay without Bob, Parker without Stone, or The Three Stooges, but with the sixth Stooge...

But Gates certainly wasn't MS, but everyone seems to say that Jobs is Apple. I admit I don't own any Apple products, so maybe that's partly why I just don't see it. We'll see...
 

StryderxX

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This is really sad news. In the past decade Steve Jobs and Apple Inc have revolutionized the industry (especially in the mobile space). I may not like his heavy handed ways but there's no doubt that his vision has vastly improved the way we interact and communicate with the world today. He and Woz started the personal computer revolution so much respect goes out to Jobs. Even if some don't like him you have to respect what he's done and I personally wish him the best.
 

DarkStryke

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Not too hard to read between the lines. He still has looked like a cancer patient (ie still on low dose chemo / radiation) even when back at the job, and pancreatic cancer isn't just something you magically beat. It's probably the most vile type of cancer there is.
 

Escher

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Let the stock price drop through the floor! I'll buy as much as I can and retire early when it recovers (and booms) like it did the last time.
 

killerbobjr

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I am willing to bet the cancer has reappeared and matasized. Sadly this happens to a lot of cancer survivors who win the first battle.
Since it's been more than five years since his cancer operation, I would put the above at a very low probability. What's more likely, and more common than a cancer reappearing after five years, is organ transplant rejection. Wikipedia states a level of 50-60% rejection for liver transplant recipients, so my guess is that he may be taking a leave like he did before to get another transplant.
 

Topweasel

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But Gates certainly wasn't MS, but everyone seems to say that Jobs is Apple. I admit I don't own any Apple products, so maybe that's partly why I just don't see it. We'll see...

I have owned 1 apple product (a G1 Ipod) for a total of two weeks, so not an expert of all things apple. But I have pretty decent knowledge of the history of most tech companies. Apple has never been the same without Jobs. Since he came back, starting with the Imac its been hit, after hit, after hit. As a "total equipment electronics" company they rely on innovation more then more, some companies like AMD, Intel, Microsoft, and so on they only rely on a particular branch of the computer field to be successful, so they only need to compete in the area's that are their strength, to compete and be successful.

Apple as a company that doesn't require market penetration to be successful, also can't rest on its lorals because their lack of penetration means lack of innovation or competitiveness would cripple them because intrapolarity isn't a concern for their customers. Without new, before anyone else, or done better then everyone else products, the customer base will fall of.

First would be the cell phones. With a 100% chance of people replacing their phones within 2 years, it has to be within 80%, 90% usability, and stylish, or they will be quickly passed by competitors. We are at a 2002-2006 period performance race compared to CPU's, in terms of Cell phone growth, something they started. They need to keep up.

Then would be the computers. They will probably hold a 5%-10% hold. But their ability to hold on to customers as the Hip option goes away with Jobs. If they aren't the stylish machines, the ability to run Windows programs becomes and issue. People would be more likely drop OSX to current, for Widows then vice versa. The switch to a identical hardware as a Wintel machine, means that what was once their strong suite can be easily recompiled to windows without much effort. They no longer are the best at any particular field.

Finally and the much harder to kill device would be the Ipod. Its one of the few devices Apple that has near market saturation. Its tie-in to Itunes and people familiarity of it would restrict mass adoption of another product. Also the feature and change list of an MP3 player is slowing down. This will in the future probably lower sales as more and more devices become replacement and secondary devices instead of new clients.

What Jobs took was a boutique and expensive machine and turn it into a big but tier 2 business. They kicked him out and they stayed there. He came back first going cheap with the Imac, to bring customers back, then built them up to a massive Tier 1 company with a stock value in the top 25. But they are still a manufacturer relying on that extra "it" to sell, if that it is from Job, then if he goes Apple might completely disappear. They are too big to be able to easily downsize to what they were prior to the first Imac.
 

Kaitian

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Since it's been more than five years since his cancer operation, I would put the above at a very low probability. What's more likely, and more common than a cancer reappearing after five years, is organ transplant rejection. Wikipedia states a level of 50-60% rejection for liver transplant recipients, so my guess is that he may be taking a leave like he did before to get another transplant.
You know, I hate to be an asshole on this but... "Will you die for Steve Jobs?"
 

Fershlugg

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do I have to give a fuck? there are more than enough appholes around to carry the torch. Bye Steve.....
 

rennyf77

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i reckon at some point the devil would want to cash in the deal he made with good ol' steve-o. happy trails.
 

travbrad

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do I have to give a fuck? there are more than enough appholes around to carry the torch. Bye Steve.....

I agree he's kind of an asshole, but even assholes don't deserve to suffer from painful medical conditions (maybe with the exception of dictators :p).
 

ditzilla

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Read this and first thing I thought was transplant rejection. Now whether he is strong enough to be able to go through another transplant is a big question. Or if the cancer's returned where and how bad and again, is he strong enough to be able to go through that treatment again.

No I don't own anything Apple, their "magical" overpriced (for me) kind of gimmicky stuff isn't anything that interests me. And yeah, I've seen and read enough to form my own opinion that Jobs is a tool. But when it comes to major health issues, I don't wish pain and suffering on anyone ... well 2 people I would but I don't know Steve Jobs so he doesn't fall into that category.
 

Methadras

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This goes right back to my original comments on here when he first became sick and the stock prices fluctuated. As far as I'm concerned, Jobs, as the CEO of a publicly traded company on an open stock exchange has a fiduciary responsibility to reveal not only his illness, but his intentions of his treatment as it affects his company and it's value. I think this should be law for all publicly traded companies.
 

Methadras

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Not too hard to read between the lines. He still has looked like a cancer patient (ie still on low dose chemo / radiation) even when back at the job, and pancreatic cancer isn't just something you magically beat. It's probably the most vile type of cancer there is.

Not only is pancreatic cancer one of the worst cancers you can get, it is also the most aggressive, the fastest to metastasize, and has one of the highest mortality rates of any other cancer. If you are diagnosed with it, you generally have about a year. It's nasty. I've had two people in my family that have passed away from it.

http://emedicine.medscape.com/article/280605-overview
 

Tolyngee

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I agree he's kind of an asshole, but even assholes don't deserve to suffer from painful medical conditions (maybe with the exception of dictators :p).

Life itself is pain and a terminal medical condition. Life has a 100% mortality rate.
 

Dylan80

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Time to unveil the iCasket.

ROFL... I bet that he could sell $50,000 of those in one week if he actually did make one.

"Chrome Trim, 7 foot of Apple elegance... even comes with an ipod dock! (ipod not included)

SOMEONE PHOTOSHOP A FAKE AD :D, that would be GOLDDDDDD and instant internet meme
 

IronChef75

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The iCasket will have a screen on the inside of the lid so you can play Angry Birds and use your Fart apps blissfully throughout eternity.
 

WaltC

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Not only is pancreatic cancer one of the worst cancers you can get, it is also the most aggressive, the fastest to metastasize, and has one of the highest mortality rates of any other cancer. If you are diagnosed with it, you generally have about a year. It's nasty. I've had two people in my family that have passed away from it.

http://emedicine.medscape.com/article/280605-overview

My mother died from it, so I can concur. She was dead 6-7 months after diagnosis, and I always suspected that the surgery she had hastened the end by a sizable margin as that was when her cancer began to metastasize. I have always believed that Jobs' original cancer had metastasized to his liver--hence the liver transplant became the only way to extend Jobs' life to any degree whatsoever. If the cancer has returned then it has probably spread to other organs.
 

Synful Serenity

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I think he would likely have already been dead by now if that was the case. Don't forget, pancreatic cancer is usually considered a death sentence, but his was a very rare form that is not subject to quite the same rules as the conventional diagnosis and he actually had a high margin for cure.

Still, materiality rules do govern public company disclosures, and while they are specified in general terms and not as an exhaustive list, in this case, I think they should apply.
 

Tolyngee

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If they cremate him he can use an iCasket Nano. OK, I'm done.

They have to keep to two-syllable product names, so you're put in your iUrn after your iPyre...

(Yes, those those sounding like "I earn" and "empire" aren't so coincidental...)
 

addum

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This was strategic. Apple announces earnings tomorrow, and given their success this year, I wouldn't be surprised if this is one of their best ever years.

Investors will be looking to buy in at lower price points on the news about Jobs.

Without living to regret saying this, I think that AAPL will do really well tomorrow.
 
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