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Steve Jobs' health concerns Apple (AAPL) investors

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What's one little 3G iPhone when the future of Apple Inc. (NASDAQ: AAPL) may be in the balance?

Seems that Apple enthusiasts didn't just listen to Steve Jobs when he unveiled the new iPhone Monday, but they watched him too. In fact, they watched very carefully. And some think that Apple's co-founder and CEO, its visionary, the one identified with the company's resurrection and its future, looked too slim when he delivered his keynote speech; his appearance, apparently, was pale and gaunt.

Of course, many are worried because Jobs was diagnosed with a rare form of pancreatic cancer four years ago. After he underwent surgery, Apple said it was successful, but disclosed the matter nine months after the fact. Naturally, many people cannot help but recall Jobs' brush with cancer when he doesn't look his best. This is not the first time such concerns surfaced.

There was so much buzz over Jobs' appearance, with bloggers comparing photos of the CEO, that the usually tight-lipped Apple issued a statement saying Jobs' thinner appearance was due to "a common bug" from two weeks ago. It's the antibiotics he's been taking, a spokeswoman for Apple said, that's made him so thin, and was it not for the Worldwide Developers Conference, he'd be laying low.

While of course we are all wishing Jobs only the best of health, investors may want to know more about Apple's succession plan. Who may be next in line should Jobs have to take time off or retire? It would be difficult to imagine any name that wouldn't create pressure on the stock price. The commonly cited ones -- Timothy Cook, Apple's chief operating officer, and Philip Schiller, Apple's senior vice president of worldwide product marketing -- are well respected, but lack the visionary status Jobs has.

No doubt, if Jobs' looks don't improve, investors will demand more disclosure and the very private CEO may not have a choice but to appease them. Let's hope that just like this time, there would be nothing material to disclose in the future too.

For now, AAPL is down 1.75%, a little more than the market. It seems so far no one is too worried.

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Last updated: July 04, 2009: 09:36 AM

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