Steve Jobs Medical Leave Hurts Apple Stock

by Jordan Yerman | January 15, 2009 at 09:14 am

95 views | 2 Recommendations | 0 comments

As per usual, Apple's stock dropped after the news of Steve Job's medical leave hit the web. Meanwhile, some shareholders are seeking legal advice regarding whether they can legitimately sue Apple for keeping its personalistic CEO's health woes secret for so long.

To what extent is an executive's health a private matter? With Apple, Jobs is the embodiment of the company's rise from the fringe to the fore, and the Cupertino-based purveyor of all things "i" is notoriously tight-lipped with resellers and the public alike.

In early trading on Nasdaq, Apple's stock was down more than five per cent. The stock was off $4.42 at $80.85 US.

The stock was hit in after-hours trading in North America on Wednesday after the Jobs announcement was made following the close of regular trading hours.

Investors may choose to litigate if they feel misled or cheated by Apple's tight-lipped policy on discussing Jobs' health issues, a matter which has undoubtedly played a major role in driving the company's share price to less than half of its 52-week high of $192.24.

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon