“Yesterday’s mistake by the Associated Press about Steve Jobs and Apple’s conference call, and whether he was there, is commonly there, not commonly there, whether it was an indication of health issues, or no health issues, just struck me as weird,” Jim Goldman writes for CNBC.
“The background: When Apple began its conference call, Steve Jobs was absent. Chief Financial Officer Peter Oppenheimer handled the duties. And in a normal circumstance, that scenario would get little attention. But following the New York Post’s coverage yesterday morning about certain hedge fund managers ‘worried’ about Steve Jobs’ health, rehashing a bunch of details that were well over a month old, it brought the whole issue back into the discourse. And that’s probably what was on the mind of the Associated Press reporter covering the conference call, wondering why Jobs wasn’t present,” Goldman writes.
MacDailyNews Take: You can politely call what the Post did yesterday “coverage,” Jim; we’re sticking with “bullshit.”
Goldman continues, “She wrote in an early filing: ‘Steve Jobs, Apple’s chief executive, did not join the conference call with investors as he commonly does, prompting an analyst to inquire about his health. Jobs survived pancreatic cancer.'”
“Apple shares were already suffering enormous pressure heading into the call because of the company’s weaker than expected fourth quarter guidance,” Goldman writes. “But when this story, with those sentences, hit the wires, Apple’s plunge accelerated into a free-fall. Was Jobs ill? Did his absence from the call indicate that he wasn’t physically up to it? Were all those concerns a month ago, that finally began to dissipate, actually well-founded? It seemed investors were answering yes, yes, and yes, and drove Apple shares down dramatically. The message boards lit up like a Christmas tree with brutal speculation about what this all meant.”
“Investors, however, should have answered ‘no,’ ‘no,’ and ‘no.,'” Goldman explains. “You see, Jobs is never on the company’s earnings call. Never. Ever. And anyone covering this company knows it. And anyone investing in the company should know it. And that’s why that sentence in the AP story is so troubling, and so factually off base.”
More in the full article – recommended – here.
[Thanks to MacDailyNews Reader “JES42” for the heads up.]
Steve Jobs might not be dead, but the Apple product line is.
Address the subject folks. The fact is Jobs needs to address this. Publicly.
Apple has basically marketed it’s products & company as an extension of Jobs himself. A public company in this situation can’t then just say it’s a private matter. Especially since Jobs looks like cancer is back and he is slowly dying. He has a fiduciary responsibility to the company.
Jobs/Apple made the situation of a Messiah as the Apple CEO. It’s not a private matter.
Apple today reached a major milestone. Apple’s yearly income figures reached a number that was 21/2 times that of rival Microsoft.
Apple stock immediatly tanked and dropped 20 % on crys of so called investors. “Why not 3 times, why not 3 times…..” was the chanting heard on the floor of the Wall Street Exchange.
Also rising in the back ground were the crys of “Clone Steve Jobs NOW. Clone Steve Jobs NOW.”
Just another day cheating, er, working…… the market.
Just a thought.
en
Why don’t we just start a new rumor right now…Steve has been busy perfecting the Fountain of Youth; a news release will follow announcing that Steve will live forever and will always be at the helm.
Steve Jobs might already be dead for all we know.
He did die, but the iPhone brought him back…
That’s the new product coming soon. That, and teleportation (see MadTV)…
RePlay,
You and your fanboi brethren would believe it.
I’ve thought about it, and I don’t think Steve Jobs’ health affects Apple’s future at all.
Apple feels like a small company, but it is really a huge corporation. There is no way that Steve can have a finger in every pot. He’d run out of fingers! It’s simply not humanly possible for him to run the whole company as a benevolent absolute monarch.
Apple doesn’t need a succession plan because they already have one and it is working right now. Each person on the level of management below Steve Jobs is capable of working without supervision. They all know what has made Apple so successful, and they aren’t going to make any changes in it, whether it’s corporate culture or product strategy.
Steve Jobs has functioned as a corporate figurehead and spokesperson. That has made it look like he’s more essential than he is. He’s gradually stepping back and letting the other guys shine, and I think that is a deliberate tact to make people realize he’s not a god.
Steve Jobs’ health is not Apple’s health, and I think Apple realizes they have to make that clearer.
RePlay: Steve Jobs has been busy perfecting the Fountain of Youth;
When perfected, the Fountain of Youth will be available as a subscription service ( estimated by Christmas 2008). It’ll cost you $99 a year and will allow you to synch memories and knowledge gained from past lives.
Immortal Me: Endlessness for the rest of us.
Several years ago, Steve Jobs did participate in a few earnings conference calls. He has not done so in recent years.
Most reporters repeat what other reports say or repeated… either ignorant or not.
I’m alive and well. I am just watching my weight so I don’t end up looking like Steve Ballmer.
Remember…There is no such thing as bad publicity. Steve knows this. Guys like Trump and the like know this. Apple is always in the news. A good problem to have.
Anyway, if Steve is really actually sick. You know what, it is his business. Don’t like it. Tough. Invest in oil.
Media manipulators on the take. LOL
“Give me monkey boy’s cholesterol level!”
If Ballmer suddenly keels over, you can expect Microsoft shares to jump ten dollars on that news.
-jcr
Speculation will continue to drive stock price down until it goes up, maybe around late August. I can hear it now:
“Apple growth has been spectacular, but can they keep it up?”
“Margins have been great, but can they keep it up?”
“If Jobs leaves the company, will Apple survive?”
“Will Apple survive if Jobs does not leave?”
“If Ballmer suddenly keels over, you can expect Microsoft shares to jump ten dollars on that news.”
And that’s the difference, Ballmer can keel over tomorrow and no-one will care. The Microsoft juggernaut keeps rolling. But if Steve does, Apple will be much more deeply affected.