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.











Reader Comments (Page 1 of 1)
6-11-2008 @ 12:47PM
Jeff Williams said...
I have seen some pundits comment that this observation of Jobs' appearance is trite. I couldn't disagree more.
Whether it is based in reality or not, Jobs has set himself up to be "the vision guy" at Apple. He needs to start personally grooming potential replacements now or potentially Apple could suffer the same consequences of Apple under Sculley or Amelio, two CEOs who had no vision and no understanding of what Apple is or what they do.
Whether you are a member of the cult of Apple or not, you cannot deny the impact Jobs has had on this company or the industry. He's a egomaniacal control freak, but he's also damn good at what he does.
My guess is if he was *truly* sick then he would not have appeared on stage. There is more than likely no problem here. But maybe Jobs should quit dining with his liberal vegan buddies and start eating steak and potatoes, fatten up his body the same way he has his wallet. :)
6-11-2008 @ 1:50PM
Beltway Greg said...
Apple is more than just one person and even if Steve Jobs were ill I believe he would apply the same type of visionary thinking in regard to grooming a successor that he has applied to resurrecting the company. Apple is no longer a single man but it a sum of its parts.
Bill Gates seems to be reasonably healthy and rubs shoulders with some of the most astute investors/business titans in the world and how has Microsoft=value trap performed lately?
I wonder if John Scully would be available to run Microsoft.
Beltway Greg
6-11-2008 @ 3:39PM
bill said...
Is he dating Kathy Griffin? Enough said/
6-11-2008 @ 4:36PM
artin said...
The guy is a genious as we all agree, and several years ago he was diagnosed with pancreatic cancer, which is very aggressive with a high mortality rate. He refused surgery and chemo, and he is alive and well. The fact that he looks somewhat thinner is probably due to his regimen, which is what is keeping him alive. His speech is also a bit different lately. Who knows how he really is, but he knows more about medicine it seems than the docotrs even, a true genius. He is the reason why he is still alive. Hopefully he is fully healed of his cancer and can stay at the helm.
6-12-2008 @ 8:12AM
jim neal said...
I'm surprised no one has thought to ask a physician if Jobs' weight loss couldn't easily be a complication brought on by the combination of his pancreatic surgery and a recent illness (regardless of cause).
Jobs had the Whipple procedure. Weight loss after the surgery is common. Keeping weight on after the surgery is also common.
Reference the March 5, 2008 CNN/Money article by Peter Elkind. Below is the relevant graph.
The surgery Jobs faced, known as the "Whipple procedure," is brutal and complex. It lasts six hours or more and involves removing parts of the pancreas, bile duct, and intestines, then reconstructing the digestive tract. But it's relatively safe: Mortality from the surgery is less than 5% at specialized medical centers with surgeons who have performed it many times. "
Reference the University of Southern California, Department of Surgery, Center for Pancreatic and Biliary Diseases
"Some of the long-term consequences of the Whipple operation include the following:
* Mal-absorption: The pancreas produces enzymes required for digestion of food. In some patients removal of part of the pancreas during the Whipple operation can lead to a diminished production of these enzymes. Patients complain of bulky diarrhea type of stool that is very oily. Long-term treatment with oral pancreatic enzyme supplementation usually provides relief from this problem.
* Alteration in diet: After the Whipple operation we generally recommend that the patients ingest smaller meals and snack between meals to allow better absorption of the food and to minimize symptoms of feeling of being bloated or getting too full.
* Loss of weight: It is common for patients to lose up to 5 to 10% of their body weight compared to their weight prior to their illness. The weight loss usually stabilizes very rapidly and most patients after a small amount of initial weight loss are able to maintain their weight and do well.
6-12-2008 @ 7:59PM
rjwill246 said...
Hopefully, it is the progressive relative malabsorption that is causing the very obvious weight loss. He certainly has lost a lot of upper body muscle mass compared to 3 years ago and I noticed that he did not bare his forearms this time. He would put a lot of minds at rest if he addressed this one head on, as I see Apple shares continuing to fall. The antibiotic story is not that likely unless it was one that gave him horrific diarrhea for a week or so. There are many plausible, non-catastrophic reasons for Mr Job's weight loss but he needs to be honest about it because, unfortunately, he is not just ANY CEO.
6-14-2008 @ 12:41AM
Thom said...
Read Jim Goldman's article in CNBC's Tech Check. He actually interviewed SJ and talked to Katie Cotton and shows a true Journalistic approach and reminds us that if they are lying about the "bug" they go to jail and after being strip searched by the SEC recently, it's highly doubtful that anything is amiss.
http://www.cnbc.com//id/25096807?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo