Steve Jobs last went on extended medical leave from January to June 2009. From the time he began exhibiting signs of weight loss in June 2008 till his return to work in June the following year, Apple shares were down 23.3%.
Apple stocks drop 6.15% on opening and closed down 2.25%.
Apple's stocks initially dropped before recovering when Jobs returned
Perhaps there is a slight difference in the two situations. In his memo in 2009, there was an expected date of return – six months down the line – which was fulfilled. This time round, there is no hint on how long the medical leave is expected to be.
In the immediate term, any decline in Apple’s value may be cushioned by the expected positive earnings result to be announced today from the bumper quarter reported on. The strong outlook from the launch of the iPhone with Verizon is likely to provide further support.
Even the clogs for the next versions of iPhone and iPad would have been set in motion by now. The question will therefore be on when Steve Jobs returns and whether an Apple without him would be able to continue on the steam roller of innovation that it has been on in recent years.
