Apple CEO Steve Jobs Takes Medical Leave of Absence

Well this doesn't sound good at all for Apple. I know that Apple Stock has dropped almost 10 % in after hours trading which is to be expected right after news like this. It will be interesting how Apple moves foreward from this. They should have some new gizmo in their back pocket that they can unveil while Jobs is out so it will show more confidence that Apple can survive without Jobs in the Long run. And who knows maybe Apple has that up their sleeve. It will also be interesting to see if Apple now goes through Layoffs or if Jobs even comes back at all. It doesn't sound good for the future of the company. But Jobs should of made a strong foundation that should have Apple running lightyears after he passes anyways.

By Mike Musgrove and Peter Whoriskey

Washington Post Staff Writers

Apple chief executive Steve Jobs today announced that he will take a leave of absence as a result of health concerns.

"During the past week I have learned that my health-related issues are more complex than I originally thought," Jobs wrote in an e-mail sent to all Apple employees.

He said he intends to return to the company at the end of June.

Speculation about Jobs's health has swayed the company's share prices during the past year as his increasingly gaunt appearance left some investors worried. The iconic tech leader, who is often viewed as the main driving force for his company's recent successes, was treated for pancreatic cancer several years ago.

Jobs did not deliver a keynote at the recent Mac-centric trade show this year, citing a hormone imbalance. The company's share price rose 4 percent on the news, a result of investor relief that Jobs was not suffering a recurrence of cancer.

Apple products, particularly the iPod and iPhone, have gained a rare kind of loyalty from customers, and much of the credit is given to Jobs's demanding leadership. He is reputedly relentless in his demands that Apple engineers make products that simplify technology, an approach that often gives the company's products a minimalist chic.

In 2004, Jobs received a diagnosis of pancreatic cancer and had surgery, which apparently was successful. Last June, however, Jobs appeared gaunt and the uncertainty over his health created new worries for investors. Stock prices suffered as a result.

Concern about Jobs's health heightened Dec. 16, when the company announced that he would not attend Macworld, a conference that he has addressed in his trademark black turtleneck for several years. Instead, the company sent marketing chief Philip Schiller to make a presentation.

Apple's stock fell as much as 10 percent after the company made that announcement.

Jobs was forced to address the rumors last week. In recent months, Jobs and the Apple board had declined to provide more information about the chief executive's health.

"Unfortunately, my decision to have Phil deliver the Macworld keynote set off another flurry of rumors about my health, with some even publishing stories of me on my deathbed," he wrote on Jan. 5. "I've decided to share something very personal with the Apple community so that we can all relax and enjoy the show tomorrow.

"As many of you know, I have been losing weight throughout 2008," his note said. "The reason has been a mystery to me and my doctors."

Jobs said that the cause of his troubles was a "hormone imbalance."

But many health professionals said then that hormone imbalance is not a specific medical diagnosis

While Jobs is away from the company he founded, Apple will be steered by chief operating officer Tim Cook.