Apple Stock Rises After Reports that Jobs is Cancer-Free
Posted July 23rd, 2008 by admin
Apple Inc. rose as much as 3.9% on Nasdaq after the New York Times reported that CEO Steve Jobs is cancer-free.
Jobs told members of Apple's board that he is dealing with nutritional problems after his cancer surgery four years ago, which can lead to weight loss in some cases, the newspaper said, citing people close to him. The 53-year-old CEO appeared visibly thinner at an event in San Francisco to introduce the newest iPhone.
“Steve loves Apple,'” Chief Financial Officer Peter Oppenheimer said when asked about Jobs's health on the call July 21. `”He serves as CEO at the pleasure of the board. He has no plans to leave Apple. Steve's health is a private matter.”
Apple fell as much as 12% yesterday, on concern Jobs might be sick and a disappointing forecast from the company. The stock gained $2.55, or 1.6 percent, to $164.57 at 12:51 p.m. New York time today.
“It's my job as the CEO to do my best to make sure everybody on the executive team is a potential successor to me,” Jobs said March 4. `”We've got great talent and I think the board would have a few really good choices. We talk about that a lot.”
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