Apple

What ails Apple's Steve Jobs?

Apple CEO Steve Jobs' disclosure that he'll have to take some time off to tend to his health did not clear up any of the mystery surrounding exactly what is ailing the man.

By any measure, Jobs has lost a lot of weight over the last year. He has only said that he is suffering from some sort of hormone imbalance that is preventing his body from properly absorbing protein and therefore is causing weight loss. The problem has apparently become "more complex" in the last several days.

Let's look at what we know and what … Read more

Apple faces credibility crisis over Jobs' health

Apple may have wanted to protect Steve Jobs' privacy with the way it chose to address his health. But the end result is a credibility problem that will not go away easily.

After initially reassuring the public that Jobs' health issues were real, but not all that serious, Apple's statement Wednesday that his problems had grown "more complex" outraged many investors and corporate governance experts. Jobs will remain Apple's CEO, but he is turning the responsibility for day-to-day operations over to COO Tim Cook until the end of June to focus on his recovery.

Now that … Read more

Apple shares slump on Jobs health news

Update at 2:29 p.m. PST, with closing stock price.

Shares of Apple took a hit Thursday at the market open, falling 5.7 percent as investors demonstrated their anxiety about the company following the news that CEO Steve Jobs is taking a medical leave.

Apple opened at $80.50 a share in morning trading, down from its close of $85.33 a share Wednesday. But by the end of the regular trading session, Apple narrowed the gap, with its shares closing down 2.29 percent to $83.38 a share.

While a number of Wall Street analysts predicted … Read more

'Fake Steve Jobs' attacks CNBC in on-air tirade

Clarification at 7:02 a.m. PST: This article originally noted Silicon Alley Insider's report that Dan Lyons has been banned from CNBC. A CNBC representative disputes that assertion.

Newsweek columnist Dan Lyons, whose anonymous "Fake Steve Jobs" satire blog took the tech world by storm in 2007 went on a blunt rant on cable network CNBC that questioned its journalistic tactics--but contrary to a blog report, CNBC says he has not been banned from appearing on the network.

Lyons was facing off against CNBC's Silicon Valley bureau chief, Jim Goldman, in a segment about the … Read more

Apple prepares for six months without Jobs

How will Apple fare without CEO Steve Jobs at the helm for six months? History provides some indication.

Clearly, Apple will miss its legendary CEO while he takes a leave of absence to recuperate from health problems that are apparently much more serious than previously thought. But Apple is in far better shape in January 2009 than it was in August 2004, when Jobs announced he had undergone surgery for pancreatic cancer and would have to take a few months off.

These days the company has three strong product lines, a worldwide network of retail stores and, with $24 billion … Read more

In the interim, who's leading Apple?

Steve Jobs' medical leave puts the spotlight back on the other members of Apple's executive ranks, in particular Chief Operating Officer Tim Cook, financial chief Peter Oppenheimer, and marketing chief Phil Schiller.

Tim Cook A one-time Compaq executive, Cook has run much of Apple's operations for some time. He also was the man tapped by the board when Jobs previously went on leave for cancer treatment.

Much of Cook's career has been spent handling manufacturing and procurement duties, although he took over responsibility for sales at Apple, before adding the COO title in 2005. In addition to … Read more

Apple shares plummet on news of Jobs' medical leave

Updated at 2:33 p.m. with updated after hours trading information.

Apple shares plunged 10.8 percent a share in after-hours trading Wednesday, after the company announced CEO Steve Jobs would take a medical leave until June.

Jobs said he would take a medical leave after learning his situation was more complex than initially believed.

Apple's shares fell as low as $76.11 a share in after-hours trading, down 10.8 percent from its close of $85.33 a share at the end of the regular trading session.

Wall Street analyst Gene Munster with Piper Jaffray said on … Read more

Steve Jobs' health memo to employees

Here's the full text of the e-mail Steve Jobs sent to his employees about stepping down as Apple CEO for a medical leave of absence.

Team,

I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.

In order to take myself out of the … Read more

Steve Jobs taking medical leave of absence

Apple has confirmed that CEO Steve Jobs will step down from his CEO post while recuperating from a hormone imbalance. His absence will stretch until the end of June.

Tim Cook, Apple's chief operating officer, will run the company during Jobs' absence, according to an e-mail Jobs sent to Apple employees that was released to the media.

Jobs said in the e-mail:

Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week, I have learned that my … Read more