Apple’s stock not reacting well to Steve Jobs’ medical leave

5.2% decline the drop in Apple’s stock in the wake of yesterday’s announcement that Steve Jobs took medical leave
$19
billion the amount of market value that was erased in the wake of Jobs’ temporary departure source

» Not enough to kill their swagga: Apple shares are still up 66 percent over the last twelve months, and have a higher market capitalization than any other technology stock. So, even without Jobs, they’re still in a good financial position.

Posted by Ernie Smith • 0 Comments • Permalink

Stock markets don’t have hearts. They’re giant money machines that react to news in callous, cold ways that don’t appreciate the nuances of a person’s achievements. Which is why, when someone like Steve Jobs takes a medical leave of absence – which isn’t the big Apple announcement everyone had been expecting (wait a second, this isn’t shaped like an iPad 2!) – stocks go haywire. Fortunately, they timed the news on MLK day, so the New York stock market gets a bit of a breather. But other markets are still open today, and the futures market isn’t liking the news either. Some quick numbers for you kids:

7.5% Apple’s stock dip on the German stock market today after Jobs’ announcement
0.9%stock futures dip on the NASDAQ – THE ENTIRE THING – this morning after the announcement
0.3% stock futures dip on the S&P 500 – ALSO THE ENTIRE THING – after he dropped the bomb source

Posted by Ernie Smith • 0 Comments • Permalink

Posted by Ernie Smith • 0 Comments • Permalink

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.
Steve Jobs • in a letter informing his staff that he’s taking a leave of absence from Apple until June. He also learned that his health problems were more complex than once thought. • source

Posted by Ernie Smith • 2 Comments • Permalink

18 Jan 2011 11:01