A Steve Jobs cancer scare still dogging Apple stock?

After a strong quarterly report, Apple, Inc. (NASDAQ: AAPL) took a dive into the low $150s, much to the surprise of many. It was largely attributed to the worry investors paying close attention to the quarterly call had about the health of Apple's CEO Steve Jobs. Jobs had been treated for a form of cancer in 2004, which he only updated the world about after he'd been successfully treated. This secrecy forced many to wonder if his recent change in physical appearance was related to a recurrence of the cancer. With posts and news stories wondering the same thing out loud, the solid quarterly report played second fiddle to people's fears about an Apple without it's iconic leader.

Although the company and man are intertwined, if Steve is really telling the truth, then Apple has a lot of positive news on the books. One great fear about Apple's profits is that the iPhone would cannibalize iPod sales in a large manner. This quarterly report showed iPod sales were up 12%!

Another reason for the drop in the price is that Apple has announced it will be throwing lots of developmental money at a new project of some sort. While that may depress the price, it does hint that Apple might well have another edgy new product being developed. Between the investment in research and Steve's health scare depressing the price, Apple investors may have a solid entry point for a long term investment play in the stock, and it stands a good chance of beginning a recovery as business as usual continues on.