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Report: Jobs' Health 'Rapidly Declining'

  • Gizmodo, Wednesday, December 31, 2008 11:45 AM
A report from tech blog Gizmodo caused a serious stir yesterday claiming that Apple CEO Steve Jobs' health is "rapidly declining." The report immediately sent Apple shares down 4% to around $85. Apple closed the trading session at $86.29.

According to the Gizmodo source, Apple's strategy is to "remove the hype factor" by letting the news about Jobs' health out slowly instead of "letting the hype destroy" the company. And the lack of a Stevenote at this year's Macworld conference "means no more hype," the source said, adding: "saying they are no longer needing [Macworld] is the cover designed by the worldwide 'loyalty' department." Gizmodo claims its source "has repeatedly been 100% correct before," although this has mostly been in matters related to Apple product news.

Jobs' health has attracted a torrent of controversy ever since he announced having pancreatic cancer in 2004. Many feel his health is a private matter that should remain out of the realm of public scrutiny and speculation. However, Gizmodo and others take the stance that Apple's success is so tied to Jobs that matters of his health weigh heavily on the company's share price. They also claim that Apple has a duty to shareholders to be forthright about Jobs' health, and that the company has failed in that regard thus far.

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