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Tuesday, January 18, 2011

Jobs Absence Causes Apple Stock to Fall

JOBBED: Apple Co-Founder/CEO Steve Jobs’ announcement yesterday that he will be taking another medical leave sent shares of the company tumbling 5% in pre-market opening trading this morning, down $17.28 to $331.20. Just last Friday, days after announcing the introduction of the Verizon iPhone, the company hit an all-time high of $348.48 a share. Some insiders are even hinting “unless told otherwise, plan for the worst-case scenario…that Jobs won’t be coming back.” Apple’s shareholders will meet on Feb. 23 to vote on a proposal to name a successor to Jobs that would require the company to make public details of a Jobs-less Apple, which is being fought by insiders. (1/18a)

 
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