“Was Apple’s decline an indication of weakness? No. It was pure manipulation by unscrupulous FUD masters, bloggers, forum posters, hedge fund managers and media types. What an outright disgrace, to play fast and loose with the health of a man just to make a buck,” Zach Bass writes for Investor in the Wilderness.
“In the process, these malfeasants hide behind what they claimed was a legitimate discussion of the speculative case. They know all too well, that in the wake of one of the most important announcements in company history, and the obvious importance Steve Jobs plays in the make up of Apple, that they had the perfect opportunity to spread fear and profit from it. Well, all I can say is that these manipulators have had there day and set into motion a very negative karma,” Bass writes.
Full article here.
[Thanks to MacDailyNews Reader “Patrice” for the heads up.]
Surely there was, and still is, some of what Bass writes about going on, but it’s a mistake to lump in everyone else who were simply just concerned about Jobs after noticing his physical appearance at WWDC. Like us, even reporters who initially declined to mention Jobs’ gauntness in their reports immediately noticed how he looked. That’s not “pure manipulation,” it’s simply awareness and concern.
In case you haven’t noticed, Apple is a very big part of our life. We know pretty much exactly how Jobs normally looks, we’ve seen his weight fluctuations, and, to us and many others in attendance, he looked very gaunt and tired at WWDC 2008. It was noticeable from the first second he stepped onstage.
This time around we decided, like CNBC’s Jim Goldman, to let video speak for itself. Wrong or right, that’s what we decided based on our assumption that Apple would be out ahead of any real issues this time and inform the world themselves if there was any real health issue with Jobs. We were basically forced to post about this story (or non-story, depending on how you look at it and what, or whom, you believe) when speculation from others began to be widely reported and after receiving emails from MacDailyNews readers were were concerned about Jobs themselves.
As CNBC’s Jim Goldman reports, Apple’s explanation is “that Jobs has been suffering from a [common bug], and thanks to an antibiotics regimen, is getting better daily, [according to] spokeswoman Katie Cotton, vice president of worldwide communications… She also knows that if the statement she’s sharing isn’t true, she risks going to jail. This is material information about the CEO of a company that hinges on his ability to run the place. Apple is synonymous with Jobs and vice versa… If there’s something more serious going on here than merely a nasty virus, and Apple knows it, and lies about it, the consequences would be devastating. Apple’s been through the SEC wringer before and likely doesn’t want to go through that again.”
We agree with Goldman, who writes, “This might be one of those rare occasions where it might be ok to take the company’s statement at face value. That doesn’t mean we stop looking around, but it does mean that all those bloggers and Apple shorts throwing kerosene on the rumor embers are doing so recklessly. And investors ought to be aware of that.” Read Jim Goldman’s full article via CNBC (and watch his interview with Steve Jobs) here.
Just don’t castigate everyone and accuse them of trying to manipulate the market; some people are simply genuinely concerned about Jobs.
And, Apple, with your past history on this issue, and you simply cannot put Jobs out on stage looking like an animated wire clothes hanger and expect the world to swallow your “common bug, getting better with antibiotics” statement hook, line, and sinker. A lot of people just aren’t buying it (or AAPL shares, lately). If Jobs is on a new diet or training for a marathon or something else, it would be a good idea to issue a more comprehensive statement that better explains why Jobs looked and sounded the way he did at WWDC.
See also, Wired’s Betsy Schiffman, who reports, “Apple CEO Steve Jobs’ gaunt appearance at the Worldwide Developer’s Conference on Monday prompted a number of prominent bloggers, with understandable trepidation, to question his health.”
“We wondered if a CEO’s health could be considered ‘material’ — the sort of information the SEC requires a company to disclose to all shareholders equally. So we asked some lawyers,” Schiffman reports. “The consensus: it probably makes sense to disclose something that will affect a CEO’s performance, but there is probably no legal requirement to do so.”
Much more in the full article here.
[Thanks to MacDailyNews Reader “Luke” for the heads up.]
[Disclaimer: We are long AAPL.]
Doesn’t Apple always go down after an announcement?
Well, why don’t you keep pumping it and pumping it and pumping it for another week or more.
Or you could shut the fsck up.
Nothing wrong with genuine concern, but yes there are those who would say or do anything to make a buck.
I’m just glad it wasn’t too serious and that Steve’s OK.
-M
yes it is true, we are all concerned, but if apple doens’t want to break the law they have to tell the truth here and that’s why is is rational to believe that he had a “commom bug” (not a virus as goldmann mistakingly reported). being on antibiotics makes it to be a serious infection (montezuma anyone?) which is not unusually coming with severe weight loss. spreading the doubt though (that the spokeswoman of apple is lying) as some of these blogs do is a common shorties-pratice. but i for myself am betting on the”common bug”, seeing this irrational price behavior as an opportunity and therefore officially declare buying 250 share as of this moment. wish me luck.
Jobs isn’t underweight, everyone else is over.
His face wasn’t gaunt, just what one would look like if they were the ideal weight.
You don’t see too many fat 90+ year olds do you? Living just a little less gets you longer life. He likely eats very healthy, trying to cure his ills with proper nutrition.
We all should take some lesson from this if we want to stay healthy, and avoid needing to go to the doctor at 40.
signed,
The Doctor
Most people are just fracking vultures!! They want to see death, destruction, poor results, UNLESS it is them on the end of the stick! Asshats!!
There are too many fools who believe everything they read. Unfortunately, some of those fools held AAPL…
Calm down. The “market” (MDN Magic Word) will cause the stock to reflect its real value over the next few months. What a nice buying opportunity considering AAPL will be over $200 soon. May I even boldly suggest that if the DOW is up today by 100 points you may well see AAPL up $8. today.
Only AAPL declined this week. Apple is very much on the rise.
Take a look at the video again. He is thin, but he does not look sick to me. Some of the pictures taken are really bad, the video is much better.
Jobs will surprise everyone @ the MWE in January when he comes out 120lbs overweight eating 5 Triple Bacon burgers & a large Frosty from Wendy’s..
On another factual point whilst the Apple spokesperson pointed out that it she was lying then she would go to jail. I accept that but would respectfully point out to her that when SJ had cancer he concealed that from Apple for some 9 months I understand.
She would not go to jail if she had information concealed from her for which there is a clear precedent.
Steve might have looked thin but he seemed all fired up and willing. Hell, the man is not a machine, this guy has a LOT on his plate.
Viewing the Keynote I was interested in the lack of cordiality between him and Phil Schiller … or was that just me … or is it old news.
If you watched the iTunes version of the WWDC Keynote Steve does not appear to have lost a lot of weight, nor does he look seriously frail. Which is the two things that everyone keeps talking about. He looks like everyone else that is recovering from the nasty Flu that’s been going around. Look close and you’ll see that Steve was just getting over the nasty flu, he had to suppress coughing a few times and he was breathing a bit hard because if some minor lung congestion. It is nothing more then this. This is a very nasty flu and one in which even a minor case of it can kick even the healthiest person in the nads and make them look a bit run down and sick. My Wife had this flu (and I’ve got it now) it’s nasty with major respiratory congestion, high fever, gastric discomfort, and I could go on. My Wife is 5’4″ and 98lbs. runs 15 miles everyday and never looks sick even when she is sick and with this flu she looked tired and sick. Which means I must look like the walking death because I look sick even if I’ve got a very minor cold or just had to get out of bed an hour or so earlier then normal.
This M$’s doing. Ever since they stopped being a technology company and became a marketing company they trash people and products this way. They probably have some former political strategist on their payroll. Remember M$ has proven that they cannot create relevant technology anymore. What they do is outright copy someone else’s idea, trash talk the original product, try to out market (spend) their competitor and then take a big loss on per unit sales to try to gain market share.
Even here on MDN..heaven knows how many of these people are Apple and M$ paid bloggers. I am just waiting for the M$ paid rumor mill to get nasty. Maybe one well placed lawsuit will stop this B.S.
just my $0.02
Obama is the one who looks like he is going to dry up and blow away. Has anyone ever thought that Steve Jobs works really hard in order to keep up with all the expectations people have on Apple?? Maybe the Mac cult should demand he take a vacation if we are really that concerned about him.
I believe Apple, however his change in appearance is quite obvious and you would have thought they’d realise that people would pick up on it. Surely it would have been better for Steve to even come onstage, say he’s been feeling a little unwell but wouldn’t have missed WWDC.
“Apple’s inexplicable decline due to pure manipulation centered on Steve Jobs health concerns?”
No.
(To x: Well said.)
Jobs is fine…the rest of you people are overweight and plugged from the inside out.
The first executive decision that Steve Jobs made when he returned as iCEO was to change the cafeteria on Apple Campus.
If we are going to really be concerned about someone’s health…If Phil Schiller tripped and fell down, he would just roll. He is the one with
improper eating habits.
Now that this fake rumor worked…expect many more…this is an opportunity for M$.
Buy on rumour, sell on news.
That’s the way the stock market usually works and Steve Jobs health IS material.
@ MDN
It becomes manipulation when certain people (not you guys) talk about Jobs health without giving Apple side of the story.
Also this isn’t the first time Steve’s health was used to move the stock down.
Stay away from the light, Steve.
People, have you ever heard of HIPAA? Steve’s health is a private matter. Get over yourselves, as the public has no right to know whether or not Steve is ill, or what his ailments are….. READ THE LAW!
In the event you are not aware, there has been a virus going around in Cupertino that has impacted a good many people over the last month or so….
fvck the stock price – i hope steve is ok
Buy now!
Charlie wrote: “May I even boldly suggest that if the DOW is up today by 100 points you may well see AAPL up $8. today.”
As of 10:22 ET, The Dow is up 145 points, and AAPL is down ~$2.50. Obviously, this is not the end of the story, since this is after less than an hour of trading.
However, keep in mind that we are in the summer doldrum period, where trading volume tends to decrease significantly on Friday afternoons.
I heard that he has been on the road a lot working out all these deals with the Telcos around the world. That would exhaust anyone and he’s probably been burning the midnight oil constantly for the last 6 months.
We should expect the stock to go down given that the market already put in the iPhone announcement in the price of aapl.
APPL hit 165!!!!!! Major buying oppertunity for all those dullards that did not get on board sooner. 165 will seem like a great thing when its over 200. Hey, profit is profit.
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I jumped on when it hit 130. BUYING oppertunity.
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(so what if I cannot spell.
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Was that Apple “statement” a real word-for-word statement? Its asinine because viruses (since they do not grow and have no metabolism) are unaffected by antibiotics…only bacteria (among others).
That makes me suspect…..
And it hit $173 (after touching $166 earlier in the morning). AAPL has been swinging vigourously over the past months on rather low volume. Le’ts also not forget that today being Friday 13th, and way too many people in the western world being superstitious, we shouldn’t be surprised it AAPL presents us today with another excellent buying opportunity.
I’ve been saying this all along: the new iPhone is expected to sell at least 20 million over the next year or so. This translates into (roughly) $7 Billion (with a ‘B’) of pure profits for Apple, essentially doubling its annual profits. This kind of growth is bound to be reflected in the stock value, regardles of health status of anyone on this planet (including senior management at Apple).
As of 11:22 ET, the Dow is up 124 points, and AAPL is down ~$0.61.
AAPL volume is heavy at ~25.4 million shares, already more than half of yesterdays ~46 million shares.
The thing is, wise people are benefiting from this manipulation, and in the long run, it won’t make any difference. Day-to-day speculation in the stock market is foolish most of the time anyway.
Take advantage of the manipulation to buy Apple stock when it’s low, so that when the story blows over and the stock price recovers, you have that much more profit.
And to Buster:
The “statement” you refer to (made by Apple spokesperson) is quoted to mention a ‘common bug’. This could easily be salmonella</a>, or <i>streptococcus; two of the most common bacteria these days, especially since salmonella has recently made news with tomato-borne outbreak (NY Post had a cover headline “The Attack of the Killer Tomatoes”). These are effectively treated with antibiotics, and either of them causes vomiting, nausea and symptoms that generally make you lose weight quickly.
I wonder if it wasn’t salmonella?
Jobs is a zombie.
Not to mention that oftentimes, when a person has an unusually bad case of influenza, they are prescribed with antibiotic, not to treat the virus (as it cannot be treated that way), but support the weakened immune system in fighting off possible bacterial infections.
Jobs’s healthy living philosophy, however, doesn’t seem to be the kind that accepts antibiotics when they aren’t exactly necessary. In such case, it may more likely be the strep, or salmonella.
As of 12:27 ET, the Dow is up 103 points, and AAPL is down ~$0.70. The stock had gone green, but then succumbed to selling.
AAPL volume is heavy at ~31 million shares at midday, already two-thirds of yesterdays ~46 million shares.
As of 13:22 ET, the Dow is up 70 points, and AAPL is down ~$2.88. The market has sold off after CNBC reported that Merrill Lynch may dilute shareholders equity by raising capital.
AAPL volume is heavy at ~35 million shares. If this rate keeps up, it will exceed yesterday’s ~46 million shares.
Steve Jobs has “temporal wasting” which is a very bad sign. It is usually seen with metastatic cancer, TB or HIV. I doubt he has TB or HIV. I would say he has 6 months to live.
As of 14:22 ET, the Dow is up 72 points, and AAPL is down ~$3.20. The market has rebounded slightly from its afternoon lows.
AAPL volume is heavy at ~39.5 million shares. If this rate keeps up, it will exceed yesterday’s ~46 million shares.
Steve had the Whipple Procedure to remove his prostate cancer. A common side effect is about a 10% weight loss, as the surgery affects his intestines, etc. He is also more prone to sudden weight loss.
There is nothing wrong with being thin. A restricted calorie diet is the only known way to extend life. Also, if you watched PBS’ Frontier House series you’d know that Steve’s weight and appearance would have been typical for someone of that era, and would have been considered rather robust. Today’s perception of what is normal is overweight.
Other reasons:
He has been fasting in order to get engineers to finish the new iPhone on time.
He hasn’t had time to pack lunch for the last two months.
He has a time machine, which he uses occasionally to travel to the future to evaluate coming trends in electronics. He has been using it a little too often lately and unfortunately, the time he spends in the future just adds to his age.
“Steve Jobs has “temporal wasting” which is a very bad sign. It is usually seen with metastatic cancer, TB or HIV. I doubt he has TB or HIV. I would say he has 6 months to live.”
Who are you, Dr. Phil? Do you have X-ray vision? Your diagnosis would have had him dying in 6 months several years ago, when these health concerns began. My feeling is that his prior surgery, vegan diet, and constant activity are responsible for his appearance. Complicated by a bug. Some of the speculation is obscene. The concern is warranted for many reasons- me, I love Apple, and I love Steve Jobs. I sure do love my Mac. I hope he’s OK, and wish he’d say something to shut everyone up.
As of 15:23 ET, in the final hour of trading, the Dow is up 106 points, and AAPL is down ~$2.83. The market has recovered from its afternoon lows and is currently trying to hold the 1,350 support level in the S&P;500 index.
AAPL volume is heavy at ~43.6 million shares. Volume has dried up this Friday afternoon, but it will probably still reach the ~46 million volume from yesterday.
At 15:45 ET, with 15 minutes left in the trading session, the Dow is up 107 points, and AAPL is down ~$2.53. The market is trying to end on a high note, but it has not yet cleared resistance at 1,355 (S&P;500 index).
AAPL volume is heavy at ~45.2 million shares. Volume has dried up this Friday afternoon, but it will probably still reach the ~46 million volume from yesterday.
At 15:55 ET, with 5 minutes left in the trading session, the Dow is up 151 points, and AAPL is down ~$1.23. The market has cleared 1,355 resistance, but is still below the morning highs at 1,361.75.
AAPL volume is heavy at ~46.5 million shares. Volume has exceeded the ~46 million volume from yesterday.
At 16:00 ET, the Dow closed up 166 points, and AAPL closed down ~$0.92. The S&P;500 index closed at 1,359.91, slightly below its morning highs.
AAPL volume was heavy at ~47.8 million shares, exceeding the ~46 million shares traded yesterday.
Good afternoon, everyone.
So anytime SJ gets ready to appear in public, he’s going to have to wear padding under his clothing or body molds to make himself look pumped up. Maybe that’s a quick way to make the stock rise. If Steve can somehow turn himself into looking like the Incredible Hulk, Apple’s stock will go up to around $400.
This whole week disgusted me to no end. All of the WWDC keynot speeches and the iPhone 3G announcement were forgotten and all that was remembered was SJ looking frail. That could never happen to Google or RIM because almost nobody knows what either of those CEOs look like. This has been one lousy week for Apple’s stock. Now that they know this SJ declining health tactic works so well, the media shills can continue to use it anytime to manipulate Apple’s stock. Damn them.
I never said that the price decline was all due to manipulators. MacDaily did not show the paragraph that states I can attribute 1/2 of the 4% decline to market conditions, the rest appears to be from manipulation.
I understand their need to provide all the information. In fact their take is quite good, but the retort is incorrect.
Whatever it is, it can’t be a virus. Viruses do not respond to antibiotics.
@ Dr Schweitzer
Thanks for the confidence. i agree 100% with you on this matter.
I have a few friends who are in their late 50’s, and their BMI is borderline underweight (19.5 and below). they went for a health scan and found that their visceral fat was at a low (healthy) level, and their only problem was a slightly higher-than-normal blood pressure. everything else was OK. they exercise moderately (morning jogs only) and took care of their diet (plus reasonable amounts of food supplements), and are socially active.
i see no reason why anyone should equate slim/underweight to sick. REMEMBER that over 60% of US citizens are overweight, and a considerable number are obese.
Perhaps that’s the US perception of health…
obese = well fed