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Steve Jobs Illness: How it affects Apple shares

January 18, 2022 | Debbie Turner
Steve Jobs Illness: How it affects Apple shares

Yesterday we brought you the news that Steve Jobs, Apple CEO and powerhouse, was to take a medical leave of absence and it appears now that the questions over his health led to a fall in the value of Apple stock although the situation has now somewhat recovered.

A Reuters report by Gabriel Madway says that the concerns over Jobs’s health have rather eclipsed the news of quarterly Apple sales and that Apple shares initially lost 6% after the announcement was made even though they had previously gained 62% in the last year on Nasdaq. However the latest news is that Apple shares have recovered in Europe (yesterday was a U.S market holiday) by 4% so far today.

One analyst, James Cordwell, felt the partial recovery was probably because some investors now note that Apple as a company is not merely Steve Jobs alone, saying, “His absence is unlikely to affect the company’s performance over the next two years or so given the strong position they have in the market.” Other analysts though feel that continued concerns over Steve Jobs’s health could still affect Apple. Nomura global technology specialist, Richard Windsor said, “Steve Job is seen by the market to be a major force in Apple’s strategic direction. If his pancreatic cancer has returned, one could be quite worried.”

After the huge sales of the holiday season though, Apple’s quarterly revenue has been forecast by Wall Street to hit $24.4 billion, a rise of more than 50% and after trading closes today Thomson Reuters says Apple is expected to report earnings of $5.40 per share.

For more on this head to an article over on Apple Insider by Daniel Eran Dilger who tells of reports by Morgan Stanley and JP Morgan analysts and how Steve Jobs’s illness may affect Apple shares in future. What are your thoughts on how the health of Apple’s CEO may affect the Apple company? Let us know with your comments.

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