“Apple holds its annual meeting today at its headquarters in Cupertino, California. The event will give shareholders the opportunity to quiz executives and directors, who have remained silent about the CEO’s health since he went on medical leave,” Joseph Galante reports for Bloomberg.

MacDailyNews Note: Jobs is not expected to attend the meeting.

Galante continues, “Apple needs to disclose who will take over for Jobs if he can’t return to work, said Michael Yoshikami, chief investment strategist of YCMNet Advisors in Walnut Creek, California. Yoshikami said he won’t buy Apple stock for the $800 million fund he helps manage in part because the company hasn’t said enough about Jobs’s health.”

“Jobs, who turned 54 yesterday, told shareholders last year that the board could choose his replacement from Apple’s management. Apple has had a confidential succession plan for several years, the company said last month,” Galante reports.

“Piper Jaffray & Co. analyst Gene Munster, who estimated last year that Apple would fall 25 percent if Jobs left the company, now says investors have priced the possibility that he may not return into the stock,” Galante reports.

Full article here.